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Emerging Markets Can Deal With Gradual Fed Taper: World Bank's Kim

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December 10, 2013 AT 7:49 AM
Emerging markets could adjust to the withdrawal of the Federal Reserve's massive monetary stimulus as long as it happens gradually, World Bank President Jim Yong Kim said on Tuesday. Fed chief Ben Bernanke shocked emerging markets in May when he raised the possibility that the U.S. central bank could soon embark on a draw-down in its $85 billion a month bond-buying program, known as quantitative easing.