Fed Will Trigger a Global Recession if Rate Hikes Continue: United Nations
Published on Oct 4, 2022
https://cb.run/aNT7 Fed Will Trigger a Global Recession if Rate Hikes Continue: United NationsThe United Nations Conference on Trade and Development (UNCTAD) released a report on Monday warning that central bank monetary and fiscal policy is putting the global economy in danger. It claimed that U.S. interest rate hikes in particular will cut $360 billion in future income from developing countries. A Crisis in Developing Countries According to the report , UNCTAD projects a global economic growth slowdown to 2.5% in 2022, and 2.2% in 2023. This will cost the planet $17 trillion – more than 20% of its income. Growth rates for developing economies will descend under 3%, which the organization calls...
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