Whatever the effect of a Fed move might be on India, Brazil, or Turkey, it’s not supposed to be part of the Fed’s decision-making process. The Fed has a dual mandate of maximizing U.S. employment and holding down U.S. inflation — worrying about emerging markets isn’t part of Yellen’s job description. Still, she said, a healthy U.S. economy is a boon for everyone. “A strong U.S. economy certainly is something that is good for other countries as well,” Yellen said Wednesday.
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