JACKSON HOLE, Wyo. — The Federal Reserve and other major central banks need to be more mindful of the "spillover" effects of their "unconventional" monetary policies, Bank of Mexico Governor Augustin Carstens said Friday.

Carstens, speaking at the Kansas City Federal Reserve Bank's annual symposium, said emerging market nations like his are facing major challenges as the Fed contemplates reducing its large-scale asset purchases.

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