Scholars warn negative effects of U.S. interest rate hikes on global economy

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Scholars warn negative effects of U.S. interest rate hikes on global economy

STORY: Scholars warn negative effects of U.S. interest rate hikes on global economy DATELINE: Sept. 22, 2022 LENGTH: 0:01:24 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the U.S. 2. SOUNDBITE 1 (English): JAMES MORRISON, Associate professor, London School of Economics and Political Science 3. SOUNDBITE 2 (Turkish): ENVER ERKAN, Chief economist at Istanbul's Tera Securities 4. various of Türkiye 5. SOUNDBITE 3 (Turkish): KAYA ARDIC, Scholar, Piri Reis University, Türkiye STORYLINE: The U.S. Federal Reserve on Wednesday enacted the third consecutive three-quarter-point rate hike, as it continues to ramp up its fight against surging inflation. The Federal Open Market Committee (FOMC), the Fed's policy-setting body, decided to raise the target range for the federal funds rate to 3 to 3.25 percent. The Fed's latest action came after it raised the benchmark interest rate by three-quarters of a point (75 basis points) at both its June and July meetings, marking the boldest move in d

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