Michael S. Barr: “Overall, our banking system is sound and resilient.”

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

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 the steps that we took together to stabilize the economy and provide public confidence in the banking system are of assistance to low- and moderate-income households and to all Americans around the country.

We are playing right into China's strategy.