GLOBALink | Thai economist frets over Fed rate hikes' spillover effect on developing economies

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GLOBALink | Thai economist frets over Fed rate hikes' spillover effect on developing economies

STORY: Thai economist frets over Fed rate hikes' spillover effect on developing economies DATELINE: Oct. 4, 2022 LENGTH: 0:02:00 LOCATION: Bangkok CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. SOUNDBITE (English): KIRIDA BHAOPICHITR, Research director for int'l economics and development policy, Thailand Development Research Institute STORYLINE: Since March, the U.S. Federal Reserve has lifted interest rates five times, boosting the U.S. central bank's benchmark interest rate to a range of 3-3.25 percent. In its fight against domestic inflation, the United States has once again used the U.S. dollar's overwhelming might to transfer the crisis to the rest of the world. A Thai economist warns that developing countries and emerging markets will bear the brunt in particular. SOUNDBITE (English): KIRIDA BHAOPICHITR, Research director for int'l economics and development policy, Thailand Development Research Institute "When the U.S. starts hiking their policy rate or the Fed funds rate as aggressively as they did, i

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