"So you have a pretty volatile revenue system built upon a pretty volatile economy."
With the economy weak and the stock market volatile, it's not exactly news that people are cutting back.
Many see this as a sign of a broader-based, less volatile economy.
The volatile economy, combined with intensifying competition, remains the primary reason for the upsurge.
Keeping it profitable requires skilled balancing of risk and reward, experts say, and in a volatile economy, risk can be difficult to gauge.
The company has also managed to weather the country's volatile economy, turning a profit every year since 1992.
The flip side would be greater risk through investing in Russia's volatile economy.
But one possible conclusion is that a less volatile economy may require quicker, finer adjustments from the Fed.
A more volatile economy has also contributed to the distrust of longer- run forecasts.
Usually small states with volatile economies have most of their national debt in foreign currency.