Brazilian finance minister Joaquim Levy in statement to the IMF steering committee:
"The normalization of monetary policy in the U.S. will possibly lead to an increase in speculative short-term capital movements with potential adverse effects on financially open emerging market and developing countries.
"However, the dollar appreciation may lead to a rebalancing of U.S. growth towards higher consumption with lower inflationary pressures. This means that the interest rate path may follow a more moderate increase than it would be observed in the absence of exchange rate movements."
Brazil with an EM perspective and useful points to consider of the Fed's path.
He also had comments on Greece:
"With regard to Greece, we hope that a debt agreement be reached soon, as we believe it is the best solution to Europe."
via Reuters
