Janet Yellen announced on Wednesday that a December rate hike is a live possibility, but that no decision had yet been made. The Federal Reserve Chair testified before the House Financial Services Committee, adding that she expects further improvement in the labor market and inflation levels to return to the 2 percent target. Yellen also addressed the condition of the banks following the 2008 crisis. But while there have been improvements, problems still remain, Yellen told the committee. The Fed proposed new bank reform measures last week aimed at reducing the chances of big bank failures. Yellen stressed the importance of more stringent capital and liquidity requirements for major banks in order to keep the financial system stable.
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