I think it's hard to understand in economics. It's easier to understand on psychology.It's a kind of panic or a sense that the world economy is just not in as good shape as we thought and so everybody is chasing everybody else.

It may be that the U.S. stock market starts to rise if people think it's gone far enough.

If you don't have a set of principles that you can explain for what you are doing, then how can anybody know what you're going to do next?

If the government can't get the economy moving again, they have a lot of fundamental problems.

I think what the Fed fears is that, if Donald Trump gets big tax cuts and big spending increases that take effect right now, when the economy is close to full employment, they will have to raise rates more rapidly.

I think oil prices are down for two reasons. One is, there is a lot of supply. There is a lot of supply because the U.S. now produces a lot of oil and there is a lot of supply because the Saudis seem to want to produce a lot of oil, maybe to punish the Iranians and the Russians.

Chinese don't really believe in markets. They like stability, they like control.