US inflation probably will revive with pressure from the attenuation of the dollar, allowing the Federal Reserve to raise interest rates gradually, said deputy chairman of the Fed Stanley Fischer on Saturday in a speech careful not to react to a possible Chinese slowdown.
"Given the apparent stability of inflation expectations, there is reason to believe that inflation will move upward as the forces that keep inflation below Chez dissipate further," said Fischer conference of central bankers "in Jackson Hole, Wyoming.
Central banks and governments around the world are preparing for the Fed's decision, which could weaken their foreign currencies and put even more pressure on emerging markets.
"At this point, we follow the development of the Chinese economy and their current and potential effects on other economies more closely than usual," said Fischer
While central banks in China, Japan and Europe to unleash monetary incentives to combat deflation and stimulate growth, the Bank of England, the Fed, ready to begin to tighten monetary policy.
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