Don’t blame the Fed for emerging market woes

Emerging market stocks began to lose steam as far back as 2010, but the reversal of some expansion trends was apparent years earlier.

When in doubt, blame a central banker. For investors burnt by the decline in emerging market stocks, it is tempting to point the finger at US Federal Reserve chairman Ben Bernanke. Had the Fed chief refrained from laying out a timetable for the withdrawal of monetary stimulus, developing world equity markets would surely have avoided a pernicious sell-off (Pulling the cloak off emerging imbalancesAugust 28).

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