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Central banks are buying our time

How does recovery change the outlook for investment in 2014?

By Nick Carn   February 2014

Janet Yellen is sworn in as Chairman of the Federal Reserve: “It now owns an extraordinary 30 per cent of all the Treasury bonds outstanding” © BLOOMBERG VIA GETTY IMAGES

Janet Yellen is sworn in as Chairman of the Federal Reserve: “It now owns an extraordinary 30 per cent of all outstanding Treasury bonds ” © Bloomberg via Getty Images

The prospects for global economic growth are looking better this year as economic recovery in the developed world trumps a slowdown in emerging markets. Dominating the investment agenda are US “tapering” of quantitative easing and China’s planned economic transition.

The Federal Reserve is beginning the process of undoing its bold monetary policy experiment. This has involved not only a long…

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