Ms. Yellen responded, “I would not generally agree with that.”

Ms. Yellen responded, “I would not generally agree with that.”
Republicans also pressed Ms. Yellen repeatedly to suspend rule writing until
the Trump administration could appoint a new vice chairman for regulation.
Ms. Yellen acknowledged that economic growth had been “quite disappointing,”
but she said the Fed’s efforts had contributed to strong job growth since the 2008 financial crisis, and she defended the value of the regulatory changes that came after it.
Representative Andy Barr, Republican of Kentucky and the new chairman of the monetary policy subcommittee, told Ms. Yellen it was “imperative”
for the Fed to refrain from issuing new regulations until Mr. Trump had a chance to place his own people at the central bank.
“I think financial regulation has resulted in a stronger financial system and less risk than we had before the crisis,” Ms. Yellen said.
During a hearing before the House Financial Services Committee, Ms. Yellen was relentlessly pressed by Republicans to concede
that the American economy was broken, that the Fed had failed to fix the underlying problems and that excessive regulation was making things worse.
The Fed has completed the bulk of the new regulations required by the 2010 Dodd-Frank Act,
and Ms. Yellen said the regulatory docket was “ relatively light.” But she did not agree to suspend the Fed’s work.
“Many financial institutions in my district and around the country are concerned
that the Fed may cram through a new wave of regulations before these new governors are confirmed,” Mr. Barr said.