Ex-Fed’s Bernanke: Trump’s view on China’s yuan doesn’t ‘fit with reality’ - CNBC
|CNBC reporting comments from Fed Governor Ben Bernanke on Monday, citing that that President-elect Donald Trump calling China a currency manipulator doesn't "fit with reality," and warned about the dangers of a trade war.
Key Quotes:
"One of the things the candidate said he would do was label China a currency manipulator, which means that China is keeping its currency artificially low in order get an advantage in exports."
"Of course, China right now is working very hard to keep the renminbi from falling. So it's a little bit inconsistent."
"Our trading system is very important to our economy."
"It is a dangerous thing to try to interfere too much with our trade and I'm hopeful that this will be a very cautious process."
"I think what we're going to see is a lot of internal dissension, where different points of view are fighting it out within the administration and the president is sort of broadcasting to the public what he's thinking in the moment."
"So there's a lot of uncertainty."
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