U.S. Fed aware of stimulus tapering impact on emerging economies: Korea's finance minister
Korea's finance minister says the U.S. Federal Reserve is well aware of the effects its stimulus program tapering could have on emerging economies, and will decide on the timing accordingly.
Speaking to Korean reporters following the World Bank-IMF annual meeting in Washington, Hyun Oh-seok said he was told by U.S. officials that the reduction of the 85 billion U.S. dollar monthly bond purchase would begin once the U.S. unemployment rate drops to 6.5 percent, and inflation is in the two-percent range.
Hyun added the Fed assured him of boosting the so-called "forward guidance" policy of better communicating with market participants to ease uncertainties about the stimulus reduction.
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