From the IMF gathering in Lima:
Emerging-market officials aren’t the only ones looking for the Fed to get on with it. Jens Weidmann, president of Germany’s central bank, said the prospect of emerging markets’ getting hurt by a Fed-induced capital outflow is “no reason” to delay a rate increase that is justified by data. A U.S. rate increase “would be a reaction to a better economy and that would ultimately be good news for the world economy,”(!) he added.
“It has been clear from conversations at this conference that many officials of emerging market and other countries feel sufficiently forewarned and prepared for them to want us ‘to just do it,’ ” Fed Vice Chairman Stanley Fischer said at a conference in Lima on Sunday. “However, we have to remain cognizant of the risks ahead.”
It´s a big screw-up!