According to a September 2013 International Monetary Fund (IMF) report, the global economy is experiencing transition on an “epic” scale, with turbulence within emerging markets potentially negatively impacting global growth by 0.5% to 1.0%. The report further claimed that all emerging markets – in particular Brazil, India, and Indonesia – have suffered due to the threat of slowing asset purchases by the U.S. Federal Reserve, which has effectively tightened their respective money supplies. By contrast, both the United States and European Union have returned to – albeit sluggish – growth.