Michael S. Barr: “The Fed is not satisfying its price stability mandate.”

I strongly believe that inflation is far too high today, and I am committed to bringing it down to the Federal Reserve's target of 2 percent.

I think congressional oversight is absolutely essential, but I would not pursue the particular legislation that you have described.

The research shows that there is no basis for the conclusion that low-income or moderate-income households were responsible for causing the financial crisis.

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.