Trump Gets Yellow Light From Yellen on Bank Deregulation

Federal Reserve Chairwoman Janet Yellen delivered a wide-ranging defense of postcrisis financial regulation on Friday that nonetheless could have mildly positive implications for investors in bank stocks.

Speaking at the Jackson Hole summit, Ms. Yellen opened the door to at least one step that would provide substantial relief for Wall Street banks: simplifying the Volcker rule.

The rule, which bars institutions taking insured…

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