Yellen to Emerging Markets: Drop Dead

New Federal Reserve Chair Janet Yellen spoke to congress today for the first time. The Wall Street Journal’s Jon Hilsenrath plucked out this bit from her prepared remarks re: the tremors in emerging markets as stimulus winds down:

FED DOESN’T ACCEPT BLAME FOR LATEST EMERGING MARKET SELLOFF: In a section in its official report to Congress, the Fed accepts that talk of pulling back on its bond-buying program last summer triggered stress in emerging markets. But officials don’t accept that the latest round of selling is due to the Fed. “Rather, a few adverse development – including a weaker-than-expected reading on Chinese manufacturing, a devaluation of the Argentine peso, and Turkey’s intervention to support its currency-triggered renewed turbulence in emerging markets, the Fed said. In her testimony, Ms. Yellen said this doesn’t yet look like a threat to the U.S. economy. But the Fed warns in its report that a number of emerging markets, “harbor significant economic and financial vulnerabilities.” An index of vulnerability presented in this report (Page 29) highlights Turkey, Brazil, India, Indonesia and South Africa as among the most vulnerable.

Translation: Not our problem.

Four other takeaways here:

Janet Yellen Doesn’t Mince Words and More on Her Testimony (WSJ)

Read Also:

Professors to EM Economies: Grow Up (TRB)

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. Eat Verts commented on Sep 14

    … [Trackback]

    […] There you will find 42211 additional Info to that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  2. used vans winnipeg commented on Oct 16

    … [Trackback]

    […] There you will find 92414 more Info on that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  3. Harold Jahn Alberta commented on Nov 13

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  4. Bil skrot Göteborg commented on Nov 21

    … [Trackback]

    […] There you can find 37488 more Information to that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  5. rbc login commented on Nov 28

    … [Trackback]

    […] Here you will find 49429 more Info to that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  6. Functional testing services commented on Dec 09

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  7. td bank easy web commented on Dec 16

    … [Trackback]

    […] Find More here to that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  8. fake rolex commented on Dec 21

    … [Trackback]

    […] Find More Information here on that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  9. 토토사이트 commented on Dec 27

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  10. CICD commented on Jan 14

    … [Trackback]

    […] There you will find 81139 more Information to that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]

  11. lace front wigs commented on Jan 23

    … [Trackback]

    […] Read More on to that Topic: thereformedbroker.com/2014/02/11/yellen-to-emerging-markets-drop-dead/ […]