Former Federal Reserve Chair Janet Yellen reportedly has warned of another looming financial crisis.

Yellen recently told an audience in New York City that she fears banking regulators have seen their authority reduced to address panics amid the current push to deregulate.

“I think things have improved, but then I think there are gigantic holes in the system,” Yellen said in a discussion moderated by New York Times columnist Paul Krugman at CUNY, CNBC reported.

“The tools that are available to deal with emerging problems are not great in the United States,” CNBC quoted Yellen as saying.

The former fed chair, now a scholar at the Brookings Institute, said there remains an agenda of unfinished regulation. “I’m not sure we’re working on those things in the way we should, and then there remain holes, and then there’s regulatory pushback. So I do worry that we could have another financial crisis.″

Yellen is far from alone in her pessimistic economic outlook.

Nearly two-thirds (65%) of institutional investors predict that the decade-long U.S. bull market will end in the next 12 months, bringing to a close the historic bull market that brought record-high stock prices and record-low volatility.

But even as they anticipate more turbulent times, six in ten investors say they feel prepared to handle the risks in 2019, according to a recent report released by Natixis Investment Managers.

“Our research shows institutional investors are already positioned for the potential market turbulence on the horizon,” said David Giunta, CEO for the US and Canada at Natixis Investment Managers. “For these sophisticated investors, actively managed strategies and alternative investments are their tools of choice to help optimize their portfolios for the challenges ahead.”

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