Chinese Central Banker Blames Fed for Market Crash

‘While the western mainstream media meme is that “this is all China’s fault” – despite the fact that the real break happened after the FOMC Minutes last week – Xinhua reports that China central bank blames wide-spread expectations of a Fed rate hike in September for the global market rout… demanding The Fed “remain patient.

As Xinhua reports,

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.’

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