Yellen says regulatory panel to look at 2020 market turmoil

WASHINGTON (AP) — Treasury Secretary Janet Yellen says last year’s coronavirus-triggered market turmoil exposed vulnerable areas in the U.S. economy that need to be addressed by the nation’s top-level financial supervisory group. Yellen told members of the Financial Stability Oversight Council on Wednesday that she wants the panel to examine what needs to be done to better protect the financial system from further turmoil. She said it should also study the impact of climate change on the stability of financial institutions. The stability panel includes the heads of government regulatory agencies including Treasury, the Federal Reserve, the Office of the Comptroller of the Currency and the Securities and Exchange Commission.