Turkish experts predict global recession amid U.S. Fed rate hikes

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Turkish experts predict global recession amid U.S. Fed rate hikes

STORY: Turkish experts predict global recession amid U.S. Fed rate hikes DATELINE: Sept. 30, 2022 LENGTH: 00:02:16 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of the U.S. 2. various of economic activities in the world 3. various of the U.S. 4. SOUNDBITE 1 (Turkish): MUSTAFA SONMEZ, Economist and writer 5. SOUNDBITE 2 (Turkish): ENVER ERKAN, Chief economist at Istanbul's Tera Securities STORYLINE: Turkish economists have said the U.S. Federal Reserve (Fed)'s aggressive interest rate hikes, having put a lot of pressure on economies around the world, will lead to a global recession. Mustafa Sonmez, an economist and writer, points out that the Fed's successive rate hikes have triggered currency depreciation and a slowdown in economic activities in other countries. SOUNDBITE 1 (Turkish): MUSTAFA SONMEZ, Economist and writer "Countries that could keep pace with the Fed can protect their currencies to some extent, but those who have trouble doing so stay far behind. Anti-inflationary prog

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