Earlier this week the Singaporean Finance minister called on the Fed to expand its mandate – potential Fed monetary actions could continue to have a financially unstable effect especially amongst the emerging markets.  During the month of August a trading priority was the liquidation of EM assets. India bore the brunt of rapid capital flight exiting their system and seeking solace mostly in the dollar and dollar assets. The emerging world is doomed to capital-flow instability “unless the Fed takes into account financial volatility in high-growth regions in its monetary policy." The Fed cannot be act alone – ... (full story)