Mexican economist on spillover effect of U.S. interest rate hikes

STORY: Mexican economist on spillover effect of U.S. interest rate hikes DATELINE: Dec. 25, 2022 LENGTH: 00:01:24 LOCATION: Mexico City CATEGORY: ECONOMY SHOTLIST: 1. various of Mexico 2. various of the U.S. 3. SOUNDBITE 1 (Spanish): MARIO CORREA, Mexican economist 4. SOUNDBITE 2 (Spanish): MARIO CORREA, Mexican economist STORYLINE: A Mexican economist said that the interest rate hikes in the U.S. and the looming economic recession in America bode ill for emerging economies. In mid-December, the U.S. Federal Reserve (Fed) raised interest rates for the seventh time this year, bringing the federal funds rate to a range of 4.25 percent to 4.5 percent, the highest level in 15 years. The Fed also signaled that it will continue to raise rates in early 2023, in an effort to rein in the fastest-growing inflation in decades. SOUNDBITE 1 (Spanish): MARIO CORREA, Mexican economist "The problem is that this (U.S. interest rate hike) represents a lot of additional complications, especially for the financial markets,

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