Banking/Interview: A view from the top

Martín Marrón, CEO,  J.P. Morgan Latin America
Despite the regional slowdown, Latin America increasingly comes up in J.P. Morgan’s conversations with global clients. Latin Trade spoke with Martín Marrón, the bank’s CEO for Latin America.
By José Luis de Haro
After several years of exceptional accommodative monetary policy in the United States, it seems that the Federal Reserve is getting ready to totally unwind some of its unprecedented policy measures, such as the bond and asset backed securities buying program, also known as quantitative easing. This will be followed by a standby period before Federal Reserve Chair Janet Yellen. The members of the Federal Open Markets Committee will potentially trigger the first hike on interest rates.
“The Federal Reserve will likely start raising interest rates by mid-2015 at a very gradual pace, barring a surprise rebound in inflation,” said Martín Marrón, J.P. Morgan’s CEO in Latin America. “Investors are watching closely to see whether the Fed’s move could impact longer-maturity rates and exchange rates globally. Luckily, there’s an attenuating factor: it is very unlikely that the Fed will surprise the market, so this lowers the risk of a repetition of last year’s abrupt capital outflows from emerging markets,” he explained.
Emerging markets have already thrown some temper tantrums over this issue, and Latin America hasn’t been an exception. Foreign direct investment to Latin America and the Caribbean could post its first drop in …

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