Fischer: US rate rise should be manageable for emerging markets
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Livewire
Vice Chairman Stanley Fischer has said the Fed Reserve should be cognizant of the impact raising rates will have on emerging markets, however, he believes the normalization process should be manageable. "In the normalizing of its policy, just as when loosening policy, the Federal Reserve will take account of how its actions affect the global economy. The actual raising of policy rates could trigger further bouts of volatility, but my best estimate is that the normalization of our policy should prove manageable for the emerging market economies." Fischer gave no time frame for raising rates in the text of his remarks, but made it clear that higher rates are coming. "Markets should not be greatly surprised by either the timing or the pace of normalization," he said, reiterating that the Fed will not raise rates until the labor market has improved further and policymakers are confident inflation is headed back to the Fed's 2 percent goal. (VIEW LINK)
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