Exchange Rate Manipulation Quotes

To the extent that the Trump administration doesn't like a strong dollar, something has got to give, and just yelling at other countries for devaluing when you're raising rates and they're cutting rates is not going to work.

I am advocating a weak yen to a certain extent.

To achieve a more balanced international system over time, countries with excessive and unsustainable trade surpluses will need to allow their exchange rates to better reflect market fundamentals.

You've had an extremely weak euro on the foreign exchange markets, you've had a very dubious policy being followed.

The IMF and other multilateral institutions do not appear to have prevented nations from manipulating the value of their own currencies.

Debasing your currency sometimes works in the short term, it has never worked in the long term and does not even usually work in the medium term. Lots of politicians like to do it because it is an easy way.

What there is no dispute about is whether or not China is a currency manipulator. They are a currency manipulator. They actively intervene every single day to keep the value of their currency less than it would be against the dollar than if it floated freely. We think. Even China barely disputes that.

Turkey does not have an official exchange rate target.

Were we to find ourselves in a world in which there was a very significant amount of dollarization, … it would be in the political interests of certain parties in other countries whose policies were less than perfect …, to blame us as the root of their problem.

Many of the worst crises occur when there is a financial collapse in a country with pegged exchange rates. Both successful and unsuccessful defenses of a pegged exchange rate require large expenditure of foreign exchange reserves that could be used for investment or consumption. Both also require strong deflationary measures that severely reduce income, wealth, and living standards.

The Chinese government does not like people betting against the yuan.

China should have a currency which is a much higher value relative to the dollar and other things. What they're doing is keeping it low, artificially low. And I mean seriously artificial. I don't just mean a little bit low. I mean major low.

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

China has other problems, but the devaluation has allowed them to make it impossible for us to compete.

As treasury secretary, I don't see it as my role commenting on the dollar in short-term movements.

Japan is doing a big number on the yen, devaluing it.

The IMF insisted that both Russia and Brazil maintain their currency at over-valued levels. Who are you protecting when you try to maintain that exchange rate by having high interest rates? You're protecting domestic and foreign firms that have gambled on the exchange rate. And who is paying the price? The small businesses that did not gamble [and no longer can afford loans], the workers who are going to be put out of jobs.

You have companies over in different countries where they devalue their currency and they make it impossible for American companies to compete.