Don't expect Federal Reserve Chair Janet Yellen to hike rates until 2016, said Dr. Srinivas Thiruvadanthai, Director of Research for the Jerome Levy Forecasting Center. Thiruvadanthai added that global economies, especially the emerging markets, would not be able to withstand a U.S. rate hike. He said Europe is benefiting more from low oil prices and a weak Euro than the ECB's quantitative easing policy, adding that the Eurozone will suffer if its exports decline. Finally, Thiruvadanthai said the emerging markets are the most dependent on U.S. growth and EM countries need to improve their trade balances with the U.S.

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