NY Fed study warns on central bank asset buying

The New York Federal Reserve warned in a report on Thursday that U.S. interest rates would rise and the dollar would fall if Asian central banks slowed their recent heavy purchases of U.S. assets.

Click here to read the article "Reserve Accumulation: Implications for Global Capital Flows and Financial Markets" on the Federal Reserve Bank of New York's web site

"Absent this inflow of official capital, U.S. asset prices would have to fall in order to attract additional private flows," the study p