President-elect Donald Trump has vowed to repeal the Dodd-Frank banking reforms, which were designed to prevent a repeat of the 2008 financial crisis. Fed Chair Janet Yellen doesn't sound happy about it.

At a news conference Wednesday, the central bank leader defended the safeguards for the banking system.

"We lived through a devastating financial crisis. Most members of Congress and the public came away from that experience feeling that it was important to take a set of steps that would result in a safer and stronger financial system," she said. "I feel that we have done that."