Discussion Paper

How Resilient Were Emerging Market Economies Through the 2022-23 U.S. Monetary Tightening Cycle?


Abstract: The cross-border spillover effects of shifts in U.S. monetary policy have long been a focus of academics and policymakers alike. A common finding in the literature is that changes in the stance of U.S. monetary policy have sizable effects on economic activity and financial markets in emerging market economies (EMEs).

https://doi.org/10.17016/2380-7172.4124

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Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2026-07-02

Number: 2026-07-02