The US Federal Reserve has begun to pivot. Monetary tightening is coming sooner than the world expected, with sober implications for overheated bourses, and for those in Asia, eastern Europe and Latin America that drank deepest from the draught of dollar liquidity.Just a reminder.
Wednesday, July 16, 2014
Fed kicks off global dollar squeeze as Janet Yellen turns hawkish: A vast wash of dollars flooded the global financial system when the Fed cut rates near zero and then bought $3.5 trillion of bonds. This may now go into reverse
The Telegraph reports:
Posted by Steve Bartin at 11:45 PM