Economists say U.S. interest rate hikes to cloud outlook for emerging markets

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Economists say U.S. interest rate hikes to cloud outlook for emerging markets

STORY: Economists say U.S. interest rate hikes to cloud outlook for emerging markets DATELINE: July 28, 2022 LENGTH: 0:02:02 LOCATION: Washington, D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the U.S. Federal Reserve 2. SOUNDBITE (Spanish): MARIO CORREA, Mexican economist 3. SOUNDBITE (English): KIRIDA BHAOPICHITR, Research director for int'l economics and development policy, Thailand Development Research Institute STORYLINE: The U.S. Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points, the second in a row of that magnitude, as elevated inflation showed no clear sign of easing. The Federal Open Market Committee, the Fed's policy-making body, decided to raise the target range for the federal funds rate to 2.25 to 2.5 percent and "anticipates that ongoing increases in the target range will be appropriate." However, many economists around the world have voiced the concern that the U.S. interest rate hikes will cloud the outlook for emerging markets and will put countries wit

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