Jerome Powell, a member of the board of governors of the Federal Reserve System, has admitted that loose monetary policy, particularly quantitative easing (QE) by the Fed, has an impact on emerging markets, but stressed that many other factors are also at play.
Powell said that in a world of global trade and integrated capital markets, it was "natural" for monetary policy to create spillover effects. "Accommodative monetary policies in the advanced economies have likely contributed to some of th
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