Volatility in the financial markets do not always correspond to changes in economic fundamentals, but in the current environment of other possibilities of growth disap-pointment globally this year has increased. Prospects for the global economy has been lowered, with the growth of the tracking very modest 3% for 2015, a slowdown of 3 , 4% in 2014, says Economics TD. Growth is still improving in developed countries, but a slowdown in emerging markets has been more pronounced. While high risk stemming from emerging markets will lead the US Federal Reserve to delay raising interest rates in September , they will not delay the increase indefinitely, adding Economics TD. The US economy continues to strengthen, driven by domestic power. This power may not be derailed by a slowdown in China or other emerging markets. "The base case we are for the first rate hike to occur in The first quarter of 2016, the funds rate rose to 1.00% at the end of 2016 and 1.75% at the end of 2017, only very slightly below our previous estimates ", foresees TD Economics.
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