Paul S. Sarbanes: “And once you start moving rates beyond the two-step, by about how much do you usually raise them up?”

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

These men and women play an important role in our defense, obviously, and the view that a number of these practices are directed at them in a whole range of ways, I think is a matter for the considerable concern.

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.

the very substantial, positive contribution that Gary Gensler has made in the Baltimore community through his civic involvement.