Fed has refrained from raising rates due to EM fragility in the past, but won't this time

Raghuram Rajan is former governor of the Reserve Bank of India, in an interview with CNBC

• "In 2013, when we had the last bout of volatility, the Fed stayed off raising interest rate for some time. It is not clear it can do that right now because we have inflation numbers in the U.S. gaining strength"
• "At this point, it seems to me the Fed is set on a path of rate hikes, and emerging markets will have to manage"

There is more at MarketWatch here

I am gonna guess this is not going to surprise ForexLive traders in the least.

As the data in the US continues to improve more Fed hikes are on the way.

Will there be domestic political pressure to hold off? I would say yes. Is the Fed independent enough to resist the pressure? Aye, that's a good question.

Has he been promised a job with the space cadets if he behaves?