Kenneth Rogoff Warns of ‘Accident Waiting to Happen’ in Emerging Markets
- Rapid Fed hikes could spark pain in some EM nations, he said
- Harvard professor points to vulnerability in Egypt, Pakistan
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Inflation has Kenneth Rogoff worrying that quicker Federal Reserve interest-rate hikes could spell trouble for emerging markets.
“Developing economies are just an accident waiting to happen,” the Harvard University economics professor said on Bloomberg TV on Wednesday, before the Fed’s policy decision. “There are already a lot of problems in what we call the frontier emerging markets.”