Brainard comments
- Markets and policymakers have woken up to how important China is for growth
- We are seeing the Eurozone growing more solidly than it has in some time
- We've seen stabilization in Japan
- Emerging markets, broadly speaking, are doing better
- After many years of downward revisions to global growth, we're starting to see upward revisions
- For the Fed, downside risks from foreign economies have greatly improved