2014-07-03T171652Z_1_LYNXMPEA620RT_RTROPTP_2_USA-ECONOMY

Obama's bank comments not a signal of new rules: White House

U.S. President Obama speaks about job numbers and the economy during a visit to 1776, a tech startup hub, in WashingtonBy Mark Felsenthal WASHINGTON (Reuters) – President Barack Obama’s recent comments on the need for more bank regulation were intended to underscore the need to keep close watch over market risks rather than to signal a new policy initiative, a White House spokesman said on Thursday. “He wasn’t referring to any specific regulation or law that he had in mind but rather the need to continue to vigilantly monitor financial markets to assess risks that may be emerging and to ensure that the necessary regulatory protections are in place,” White House spokesman Josh Earnest told reporters at a briefing. Obama’s comments in a radio interview on Wednesday sparked speculation that he may be considering new constraints on banks and trading activity.

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