Janet Yellen is discovering that when it comes to providingmonetary stimulus, the Federal Reserve is damned by emergingmarkets when it does and damned when it doesn't.

Sixteen months after she used a Tokyo gathering of global policymakers to defend her institution against criticism it waspurchasing too many assets, Fed Chair Yellen attends this week'sGroup of 20 meeting in Sydney being lobbied to pay greaterattention to foreign fallout as the U.S. slows its bond-buying.

What's not changed is her response: A well-managed U.S. economybenefits the world and other central banks have tools to supporttheir own economies. That's disappointing counterparts such asIndia's Raghuram Rajan and Gill Marcus of South Africa, whocriticized the lack of a synchronized global monetary policy asdeveloping-nation currencies suffer their worst start to a yearsince 2010.