Volcker urges no complaceny on financial reforms

CAMBRIDGE, Mass. Oct 15 (Reuters) - The recent rally in the U.S. stock market and signs of improvement in financial markets should not lead to complacency in the push for financial reforms after the severe crisis of the past two years, Paul Volcker, a senior adviser to President Barack Obama, said on Thursday.

Volcker, a former chairman of the Federal Reserve, said financial markets have not yet fully healed.

Further, structural imbalances in the U.S. economy threaten to prevent a sustainable recovery from the deep recession that may now have ended, Volcker said in a forum at Harvard University's Kennedy School of Government. (Reporting by Ros Krasny; Editing by Leslie Adler)