U.S. central bankers "have done everything we can to avoid surprising the markets and governments" about the first hike in interest rates in nine years, said Federal Reserve Vice Chairman Stanley Fischer, on Thursday. The Fed has taken such pains that many several emerging market and other central bankers for some time have been telling the Fed to "just do it," Fischer said in a speech about the outlook for Asia's economy at a conference sponsored by the San Francisco Fed. Many economists think a December move is a done deal, but Fischer said no final decisions have been made and officials continue to scrutinize the data. Fischer said it remains to be seen whether the emerging market countries in Asia and the world are sufficiently prepared for the potential capital flows and market adjustments so that there are no major macroeconomic consequences.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below