Gavin Wendt

There are growing signs that the unwinding of the trillions of dollars worth of interventions by central banks could be every bit as dangerous and volatile as the conditions that led them to take the actions in the first place. The Washington Post reports that the mere hint that the Fed will slow the rate at which it injects new money into the system by buying bonds has driven a torrential sell-off of all sorts of assets this summer, driving U.S. interest rates up a full percentage point and prompting even bigger financial convulsions in emerging nations.


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