Michael S. Barr: “It seems like, in Washington, whenever the private sector produces some type of innovation or new advancement…”

The obligation, obviously, is on Congress and the Executive Branch to work out an arrangement on the debt ceiling to raise it.

We definitely want innovation in our banking system. Innovation has been critical to having a thriving financial sector and a thriving economy.

The responsibility of bank management is to take the monetary policy, the interest rate world around it, and to respond with appropriate risk metrics, and they didn't do that.

The answer is that the Biden Administration allowed this to happen by pursuing a policy of weakness and appeasement that allowed Iran to finance this invasion.