PBOC researcher blames Fed for stocks rout

25-Aug (Xinhua) — A researcher with China’s central bank on Tuesday blamed wide expectation of a Fed rate rise in September for the global market rout.

Yao Yudong, head of the People’s Bank of China’s Research Institute of Finance, said the expected Fed rate hike next month had been the “trigger” for the wild market swings.

Analysts worried that the Fed rate hike could accelerate the plunge of U.S. stocks and trigger a sell-off of assets worldwide and even a new global credit crisis.

Yao said the Fed should remain patient before the U.S. inflation reaches 2 percent.

[source]

PG View: Can we just agree that central bankers the world-over are to blame for driving asset prices to unsustainable levels?