“We’re just going to have to wonder going forward through this year as to the potential problems in China and other emerging markets,” he said on Bloomberg Television.
The Bank of America Merrill Lynch Global Broad Market Index returned 1.6 percent in January, including reinvested interest, while the MSCI All-Country World Index of stocks lost 4 percent.
A Bloomberg customized gauge tracking 20 developing-nation currencies fell 3.1 percent in January and has rebounded 0.8 percent this month.
Fed policy makers cut their purchases of Treasury and mortgage debt in two steps to $65 billion a month from $85 billion, citing improvement in the outlook for the labor market.