Michael S. Barr: “Tax and spend policies are largely to blame.”

We are playing right into China's strategy.

I have legislation, the Chinese Military and Surveillance Company Sanctions Act, that uses the OFAC SDN list to target the financing of military and surveillance companies that act counter to the national security of the United States.

The report that we released suggests that both the Board in Washington and the San Francisco Fed did not hold up the bank with enough pressure.

I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.