 "US Federal reserve, economy, inflation, rates, growth, global, markets")
One of the big risks for emerging market (EM) financial assets in 2021 is the one of a tapering of asset purchases by the US Federal Reserve, something which will be eventually followed by other G-7 central banks.
The balance sheet of the US Federal Reserve has ballooned dramatically since the global financial crisis. In 2008, before the global financial crisis, the size of the balance sheet was about $1 trillion. Today that is almost $8 trillion. The size of the balance sheet rose by $3 trillion in March-May 2020 itself as the Fed hit panic stations and pulled all the
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