One more question for Lloyd Blankfein: What do you think about the falling RMB?

One More Question

CCTV America’s Phillip Yin interviewed CEO of Goldman Sachs Lloyd Blankfein and asked him one more question about the the falling value of the Chinese yuan.

“I think the U.S. economy is growing strong enough that the best thing for the U.S. at the moment, is not necessarily getting a spur to our own economy, through a lower currency, rather it’s allowing the other economies around the world to get out of their torpor, to grow, and to get out of their recessionary and deflationary pressures,” Blankfein said.

“The United States… and there’s a limit to it, but right now the people in the United State have observed a strengthening of the U.S. dollar and reduction in the valuation of our trading partner currencies, and no one has made too much noise about it. Because the U.S. economy has a wind behind it and it would suit us if other economies around the world started to grow. And given the level of interest rates around the world, that stimulus is not going to come from taking rates down, it might only come from a lower currency agains the U.S. dollar.”