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Rising interest rates in US will hinder foreign economies
PAUL WISEMAN, AP //May 6, 2022
Rising interest rates in US will hinder foreign economies
PAUL WISEMAN, AP //May 6, 2022
WASHINGTON (AP) — When the Federal Reserve raises interest rates — as it did Wednesday — the impact doesn’t stop with U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans.
The fallout can be felt beyond America’s borders, hitting shopkeepers in Sri Lanka, farmers in Mozambique and families in poorer countries around the world. The impacts abroad range from higher borrowing costs to depreciating currencies.
