UN Calls On Fed, Other Central Banks to Halt Interest-Rate Increases

In a quest to fight inflation, the FED and other Central banks around the world resorted to raising interest rates. In September, the Federal Reserve approved a third-consecutive 0.75 percentage point rise.

Chairman Jerome Powell said in September that he anticipates that interest-rate increases will continue as the Fed fights high inflation.

Today, A U.N. agency warns that further policy tightening risks a global economic downturn and therefore is calling on the FED and other Central banks to halt interest rate increases

Source: WSJ