Michael S. Barr: “Inflation has hit a 4-decade high, with the Consumer Price Index (CPI) surging to 7.5 percent.”

I want to know what the bank executives were doing in the months, weeks, and days leading up to this failure.

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.

We will definitely be looking into that. And we retain enforcement authority to go after people at the bank who violated the law, or who breached their fiduciary duty, or who engaged in unsafe and unsound practices, and we will hold them…

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.