SINGAPORE, Oct 8 (Reuters) - St. Louis Federal Reserve Bank President James Bullard said on Monday that emerging markets were as “prepared as they can be” for changes in U.S. monetary policy.
Bullard, a non-voting member of the U.S. Federal Reserve’s policymaking committee, made the comments at an event in Singapore.
The U.S. Federal Reserve last month raised U.S. interest rates for the third time this year, in a statement that marked the end of an era of “accommodative” monetary policy in the world’s biggest economy.
Rising U.S. interest rates, coupled with fears around the economic impact of a trade dispute between the United States and China, have hurt financial markets in emerging Asia especially the likes of Indonesia and the Philippines. (Reporting by John Geddie and Aradhana Aravindan; Editing by Simon Cameron-Moore)