Why Singaporeans should be worried about rising US interest rates?
The Central Bank of USA, known as the Federal Reserve ("Fed" in short) is responsible for the conduct of monetary policy in USA. As US is an interest rate setter due to its large market for loanable funds and open-ness to capital flows, the monetary policy is USA is mainly interest-rate centred, and is also referred to as the interest rate policy. The Fed interest rate decision is entirely based on its own domestic economic conductions. Generally, if the economy is showing si