European Central Bank head warns on Trump deregulation push

During a hearing in the European Parliament, ECB President Mario Draghi was asked about Trump's efforts to revisit parts of the Dodd-Frank regulations aimed at keeping risk-taking banks from sparking a repeat of the 2007-9 financial turbulence that launched the Great Recession.

Responding to questions from the members of the parliament's economic and monetary affairs committee, Draghi also rejected claims by the Trump administration that Germany gets unfair trade advantage from a weak euro.

[...] German politicians and German members of the ECB's board have agitated in vain for higher interest rate policy that would likely have strengthened the euro.

Draghi said those policies were carried out to boost the lagging recovery in Europe, not for currency advantage: "the monetary policies that we have conducted reflect the different stage of the cycle in the eurozone and the United States."