American Central Bank Fed will start raising its interest rates by March. It will also restrict the money supply by selling bonds from its portfolio. The American dollar is the global currency, while interest rates anywhere for any type of loan and bond are determined by US rates. Emerging Markets which carry a load of USD-denominated debt, such as Turkey are going to feel Fed’s actions in their guts.
This brief and non-technical video explains how Fed actions ripple through the global bond and equity markets to economies in remote corners of the global financial system, in particular to Turkey.
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