Economics
Will U.S. Rate Hikes Be Different This Time for Emerging Markets?
Experience shows that when the Fed has embarked on significant rate hiking campaigns, there are global repercussions.
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Historically, the road to higher U.S. rates has been littered with emerging-market casualties. So as the Fed contemplates liftoff (probably in the second half of 2015), the pressing question for many economies is, “will this time be different?”
That's one of the most dangerous phrases in the field of economics.