WASHINGTON, May 1 (Reuters) - Federal Reserve Chair Jerome Powell said on Wednesday that other countries and financial markets are adapting well to the economic growth and monetary policy divergence between the U.S. and the rest of the world, without the emerging market turmoil that marked such divergence in the past.
"For the emerging market economies, we haven't seen the kind of turmoil that was more frequent 20 years ago, 30 years ago," Powell told a news conference after the Fed's decision to hold rates steady. "And that's, I think, partly because emerging market countries, many of them have much better monetary policy frameworks, much more credibility on inflation, and so they're navigating this pretty well this time." (Reporting by David Lawder; Editing by Leslie Adler)
