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As the US economy continues to recover from the Financial Crisis, the Fed is soon expected to normalize US monetary conditions by slowly reversing the policies initiated under its former Chairman Ben Bernanke – quantitative easing and the lowering of the federal funds rate to the zero lower bound.
The policy change has two parts: (i) tapering asset purchases (almost complete), and (ii) normalizing the policy interest rate (yet to begin). These have differing impacts on Asia with the external deficit countries most affected by the former and the high debt countries most affected by the latter. With the Fed signaling that US short term rates will start to rise sometime next year, an important issue is to identify the possible stress points and vulnerabilities in Asia's financial systems and beyond.
The policy change has two parts: (i) tapering asset purchases (almost complete), and (ii) normalizing the policy interest rate (yet to begin). These have differing impacts on Asia with the external deficit countries most affected by the former and the high debt countries most affected by the latter. With the Fed signaling that US short term rates will start to rise sometime next year, an important issue is to identify the possible stress points and vulnerabilities in Asia's financial systems and beyond.
AmCham China is pleased to invite Paul Gruenwald, Asia-Pacific Chief Economist, from Standard & Poor's Ratings Service to talk about the impact of rising US rates on Asia. You will hear first-hand insights from an eminent economist in Asia and enjoy insightful interaction. For anyone interested in financial services industry, this is a must-attend event.
