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Fed officials not persuaded to consider taper fallout on EMs

  • Fed policy makers have rejected calls to take the recent turmoil in emerging markets into account when deciding on when and how reduce the bank's QE program. The fallout from the prospective tapering was a hot topic of discussion at the Fed's Jackson Hole annual get together over the weekend.
  • "We only have a mandate to concern ourselves with the interest of the United States," Dennis Lockhart said.
  • "They were complaining about us easing too much," James Bullard said. "Now when we start to talk about taper they're complaining about too tight of a policy. They have an independent monetary policy and they have to use that to manage" their own economies.
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Comments (2)
  • bbrady413
    , contributor
    Comments (757) | Send Message
     
    Lockhart probably had the wisest statement out of Fed so far this year.
    26 Aug 2013, 04:16 AM Reply Like
  • 6151621
    , contributor
    Comments (1180) | Send Message
     
    I hope these economists / fed bankers can see that trashing other economies probably won't help US longer term. I think Ben's helicopters accidentally flew over EM countries (and not the US) dropping dollars. ├ža la vie
    26 Aug 2013, 01:40 PM Reply Like
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