Economics
Welcome to Quantitative Tightening as $12 Trillion Reserves Fall
- China tops central-bank drawdown of foreign currency reserves
- Reserve reduction may complicate interest rate increases
Fidelity’s Lewis Says Angst About the Fed Is Ridiculous
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The great global monetary tightening of 2015 is under way, but it’s not being led by the Federal Reserve.
Even as U.S. policy makers ponder whether to raise interest rates this month, one recent source of central bank liquidity in financial markets is drying up and the loss of it partly explains August’s trading volatility.