Emerging Market Crisis Beckons As Currencies Shudder Amid Lira Drop

Since April, when the dollar finally shook off the stigma from America's deteriorating fiscal outlook on the way to rallying behind hawkish Fed policy and a favorable shift in rate differentials, questions about the resiliency of emerging markets have popped up time and again. "Monetary stimulus by the Fed and other advanced economies played a relatively limited role in the surge of capital flows to (emerging market economies) in recent years", Jerome Powell said, at an IMF/SNB event in early