“Specifically, the Fed said it would shrink its QE program by another $10 billion, to $65 billion. Policymakers also strongly implied they will continue reducing their bond buys going forward. The ramifications of these moves will be widespread and severe for both the interest rate markets and the markets that take their cues from them — which, frankly, are pretty much every market on the planet.  We’re already seeing vulnerable emerging markets impacted by the Fed’s moves. Central banks in Turkey and South Africa have been forced to respond to the Fed’s policy shift by jacking up their interest rates. Other countries as far flung as Indonesia and Brazil have already done the same.”

http://www.moneyandmarkets.com/fed-signals-end-of-easy-money-are-you-ready-for-massive-shift-in-rates-57889

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