The global economy seems to have braced itself for a recession, especially since the Federal Reserve announced its third consecutive interest rate hike of 75 basis points and other major central banks followed suit.
Despite the UN’s call to halt increases in interest rates, the Fed seems unlikely to pay any heed to the adverse effects of high-interest rates on the economy. And further pledges to continue with its monetary policy stance until it achieves its long-term inflation target of 2%.
