Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
J. Scott Applewhite/AP
Janet Yellen sat for her second day of her semiannual questioning before Congress on Wednesday, where she faced tough questioning from House Republicans on banking regulation.
The most important exchange: Republican Rep. Bill Huizenga asked Yellen if she thought that eliminating "unreasonable regulations" would have led to a "faster and steeper recovery." Yellen said that she didn't agree with that statement, a rare assertion of ideology from the Fed Chair.
Why it matters: Janet Yellen is clearly committed to the idea of post-crisis regulatory reform, and will fight pressure from outside the Fed to ease bank regulations. Republicans however, are hoping that there is enough time in this Congress, after healthcare and tax reform, to turn to a significant Dodd-Frank rollback that may include extra provisions that would limit the Fed's powers and independence.