Opinion: How one interest-rate hike by a small African nation could derail Powell’s Fed policy plans and sink stocks

The Federal Reserve is beginning the first phase of its very gentle, very conditional, very cautious path to stimulus removal.  Fed Chair Jerome Powell, just nominated for a second term at the helm of the U.S. central bank, is intent on pushing back against any speculation about thinking about talking about rate hikes.

But around the rest of the world, something quite different is going on in the halls of central monetary authorities from Latin America to Eastern Europe, Africa, and lately…

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