People tend to look at core to get a look at overall strength and weakness of the economy,

A 30 percent appreciation of the yuan over the next year could be a destabilizing blow to their economy. That could lead to political upheaval. I don't know if at the end of the day you want that. And whether it's Wal-Mart or old line U.S. manufacturers or Silicon Valley, there are a lot of U.S. businesses that depend on low-priced Chinese inputs.

The dollar's strength and the bond market's weakness right now is changing the way people are seeing things, ... It's telling us that interest rates are likely to rise and that commodity prices are likely to come down.

It's been a bit volatile today. People are selling into strength and buying into weakness.

The headline number was weaker than what people expected. But when you look down into the underlying details, it's not as weak as what that headline number would suggest.

Most people expect that the Fed will hike short-term rates more than the 10-year (yield) will go up this year.