G20 communique draft obtained by Reuters:
- Welcomes stronger activity in some countries but says global growth falls short of expectations
- Confident global recovery will gain speed
- Will carefully calibrate and clearly communicate monetary policy actions to limit negative spillover effects
- More effort needed in implementation of growth strategy commitments
- Boosting investment a top priority for all
The bolded sounds like a clear shot at the Fed. The IMF has encouraged them to delay and emerging markets are terrified of capital flight if the Fed hikes. No one would argue the Fed has clearly communicated its next monetary policy move.
