The indication by the US Federal Reserve that it was considering a reduction in the rate at which it would expand its balance sheet had a dramatic effect on emerging economies

The most sobering lesson of the global financial crisis was that developments expected to increase resilience – the “originate and distribute” model o(...)

Under Janet Yellen, the committee built an internal consensus for changes. Photograph: Robert Galbraith/Reuters

andJanet L Yellen told friends in recent weeks that she did not expect to be nominated as the next chairman of the Federal Reserve. Although she had b(...)