It is important that China stop its over-reliance on municipal debt to finance infrastructure. I take comfort in the fact that China's leaders understand this.
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As a steward of the U.S.economy and financial systems, the Treasury has helped lay the groundwork for the American economy to become a model of strength, flexibility, dynamism, resiliency. This is a system that generates growth, creates jobs and wealth, rewards initiative, and fosters innovation.
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Foreclosures are a significant problem; they're an economic problem.
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The income disparity is a huge issue. And I think that the only solution to this - there is no easy solution - are fundamental changes. That the world is changing quicker than our policies are changing. And we need the kinds of policies that will let us have a competitive economy going forward.
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The Treasury Department has a critical role to play in helping to set the direction of a U.S. and global economy, a role that reaches back to America's founding.
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We need a new tax system. We need entitlement reform. We need immigration reform. These are not easy things. But it is going to take our political system working better.
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I hate good press, and I abhor bad press.
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A single agency responsible for systemic risk would be accountable in a way that no regulator was in the run-up to the 2008 crisis. With access to all necessary information to monitor the markets, this regulator would have a better chance of identifying and limiting the impact of future speculative bubbles.
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I can't help but think what would have happened if a divisive character such as Trump were president during the 2008 financial crisis, at a time when leadership, compromise, and careful analysis were critical.