In June, Ben Bernanke, Chairman of the US Federal Reserve, announced that he was considering “tapering” the Fed’s programme of quantitative easing. By this he meant that, as the US economy was showing signs of improvement, the central bank was no longer going to pump money into the domestic—and by extension the global—economy. World markets panicked.
We can learn two things from this. First, the US is still the main market to watch, especially now there are signs of a slowdown in China and other large emerging economies. When Bernanke sneezes, the rest of the world catches a serious cold.…
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