Federal Open Market Committee
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Scaling Back Quantitative Easing: Domestic Recovery at a Foreign Cost
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Federal Reserve announcements about “tapering,” or reducing the level of quantitative easing, had significant negative impacts on financial asset prices in otherwise robust emerging market economies.
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What Currency War?
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Contrary to analysts’ expectations, US capital outflow was relatively small in 2011 and the US dollar actually appreciated against the currency of emerging markets.