Michael S. Barr: “If politics were to get involved in monetary policy it would dramatically reduce the effectiveness of what the Federal…”

The banks we regulate, in contrast to stablecoins and crypto markets, are well-protected from bank runs through a robust array of supervisory requirements.

The Congress needs to increase the debt ceiling. There are no other options around that.

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

The Federal Reserve's rules, issued in the wake of the legislation that was issued in 2019, did have the effect of lowering supervisory and regulatory standards for firms.