The only reason you would want your currency to fall, if you could control it, is in order to get more exports.

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.

People have put a lot of faith in the government's ability to get growth going in China. People have this, what I think, illusion that there are six people in China who really have their hand on every button. And what we're learning is, it's a very big economy and they're not that good at it.

There is the fact that - people have had a lot of confidence that the Chinese leadership could fix what is wrong with their economy so it wouldn't have ripple effects around the world. I think that confidence is being shaken by how difficult it is for them to manage their stock market and their currency.

I think the one thing that's going on here is that people are saying, uh-oh, the Chinese economy might be slowing more than we thought and the government is having a hard time stimulating it again.

The only reason you would want your currency to fall, if you could control it, is in order to get more exports.

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?