Hoosier's note: I saw Janet Yellen's first congressional testimony, as Fed chair, last night.
One Committee Member asked her about the (adverse) effect of the Fed's tapering on the Emerging Economies and she replied that the Fed has provided 'Forward Guidance' and that the Taper has been and will be carried out on a 'Measured Pace'.
It is my opinion that Janet Yellen doesn't give a damn about what happens to the Emerging Economies and this has solidified my belief that the next Financial Crisis will start from the Emerging Economies, just like the 1997 Asian Financial Crisis.
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