Alan Greenspan, the former chairman of the Federal Reserve, said the Dodd-Frank Act has generally been negative for the US economy, but scrapping it and starting from scratch would be very difficult.
During his keynote speech at the PEI CFOs and COOs’ Forum in New York in January, he added it would be remarkable if President Donald Trump repealed the act, because of its scope.
In these extracts from an exclusive video interview, the economist expands on the Dodd-Frank Act and shares his views on US infrastructure development.
Greenspan has strong views on the Dodd-Frank Act, which includes the much-maligned Volcker Rule, dubbing it a “flawed bill” that “didn’t capture the nature of how financial systems work”. In this video he discusses a sensible approach to revising the regulation, and gives his opinion on how the review should proceed.
Greenspan appears dubious that there will be an increase in the number of privately funded infrastructure projects in the US, despite the president’s heavy focus on its development. Find out why in the video below.