Paul S. Sarbanes: “In my view, this is a very shortsighted approach, both as a matter of policy and negotiating tactics.”

I would very much hope the administration would listen to that.

Yes. They have built up these currency reserves, very strong positions. And we owe it. We owe it.

I am pleased to welcome Chairman Greenspan back before our Committee to testify on the Federal Reserve's Semi-Annual Monetary Policy Report to Congress.

There has been an incredible deterioration in recent years in the U.S. trade deficit.