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China Turns From Foe to Friend in the Fed's Quest to Raise Rates

Beijing's focus on stability probably brings a smile to Janet Yellen's face.
Bloomberg business news

Should the Fed Warn China About an Impending Rate Hike?

China's emphasis on stability looks to be lending support to the Federal Reserve's efforts to normalize monetary policy, in stark contrast to the financial volatility the world's second-largest economy sparked in summer 2015.

The minutes of the central bank's April meeting revealed that most participants saw a rate increase in June as likely if the U.S. economy continues to improve. The odds of a rate hike in June or July implied by federal funds futures proceeded to soar as markets digested the communiqué.