Is it all over? Is the emerging market turmoil no longer a concern among investors, economists and academics? Measured at least in the last week, the market is recovering some lost ground. Maybe  January’s sell-off was enough and in the last week all boats seem to be rising once again. After all, there’s a new Fed Chair in Janet Yellen who has now officially taken over and the likelihood of easy monetary policy, tapering of asset purchases notwithstanding, isn’t expected to change.

MSCI’s emerging market benchmark stock index has rebounded 3.5 percent from a Feb. 4 low. The U.S. benchmark S&P 500 stock index has risen slightly more over the same period.

Taking the pulse of the market sentiment at the University of Delaware following a speech by Philadelphia Fed President Charles Plosser, it appears there’s less concern emerging market woes will take down the world. In a straw poll of the audience (rough estimate put the number at 350+ attendees), the message was upbeat.

In Delaware this morning, at least, the audience was asked how much they expected, if at all, the U.S. market would be roiled by turmoil in the emerging markets? Very little was the answer. The majority, 59 percent, said there would be little impact, although a sizable minority at 29 percent said there would be a lot. Just 5 percent said it was 1997 all over again and 7 percent said no impact at all. Plosser said the current volatility in emerging market currencies could still pose a risk if they were to spill over more broadly into other financial markets. However, he did not consider it a significant risk to the U.S. economy at this point. “While there continues to be some downside risks, for the first time in a few years, I see a potential for some upside risks to the economic outlook. We need to consider this possibility as we calibrate monetary policy,” Plosser said.

When it came to the Fed completing its taper of asset purchases by the end of the year, however, the answers were not so clear cut. An equal amount, 42 percent, said the fed would finish its course of tapering by year end. However, 42 percent said no, the emerging markets or an economic slowdown will force the Fed to stop its tapering measures, thereby keeping its asset purchase program, currently at $65 billion a month, going for longer. Plosser, by the way reiterated that he wants to see tapering finished sooner rather than later because at this point it is “neither helpful or essential.” Just to round it out, 14 percent said they didn’t know if the Fed would finish tapering in 2014 and well, 2 percent just didn’t care.