U.S. Treasury Secretary Janet Yellen is facing pressure from Democrats to revive tougher scrutiny of hedge funds and other large pools of capital as she heads her first meeting of the premier grouping of U.S. financial regulators on Wednesday.
It also will hold a rare public session to discuss financial system risks from climate change for the first time. "Is there another fund that's larger, that's more leveraged with the same characteristics that could prove to be a more systemic event? That's the major concern right now."Former Treasury Secretary Jack Lew used the FSOC from 2014 to 2016 to focus on risks posed by hedge funds and asset managers, forming a working group https://www.treasury.gov/press-center/press-releases/Pages/jl0431.aspx to study their use of leverage.
Yellen said at her confirmation hearing in January that she still thought that studying leverage was worth pursuing, citing the market problem experienced last March.
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