By the most recent forecast, the U.S. Federal Reserve is set to raise interet rates on December 16. That it’s happening in the midst of a global economic slowdown is bad news for markets and economies around the world. Even China’s yuan, which had remained stable alongside the strengthening U.S. dollar until recently, had to decouple from it in August to bolster the country’s faltering export industries; it was another decision that shook markets worldwide.
Federal Reserve Chair Janet Yellen has been warning of the coming interest rate hike for some time now. She wanted to
Source URL: https://www.foreignaffairs.com/articles/united-states/2015-12-15/fed-mop-not-hike