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Fed governor calls for relook of Volcker Rule

Jerome Powell says the law does not allow the largest financial institutions to hedge their positions and create markets

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Federal Reserve governor Jerome Powell has urged Congress to rewrite the Volcker Rule that restricts proprietary trading, while calling for "a high degree of vigilance" against the build-up of financial risks amid improving US growth.

Atlanta

FEDERAL Reserve governor Jerome Powell has urged Congress to rewrite the Volcker Rule that restricts proprietary trading, while calling for "a high degree of vigilance" against the build-up of financial risks amid improving US growth.

"What the current law and rule do is

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