Yearender: Xinhua's top 10 world news events in 2022

Yearender: Xinhua's top 10 world news events in 2022

(221230) -- BEIJING, Dec. 30, 2022 (Xinhua) -- This photo taken on April 20, 2022 shows the U.S. Federal Reserve in Washington, D.C., the United States. Xinhua's top 10 world news events in 2022 Fed's aggressive rate hikes scourge global economy The U.S. Federal Reserve raised interest rates by 25 basis points on March 16 to stem a surge in inflation, beginning its new round of rate-hiking cycle. Throughout this year, the Fed has raised interest rates seven times in a row, with a cumulative increase of 425 basis points. The Fed's aggressive rate hikes have caused the exchange rates of many currencies to fall to historic lows, the imported inflationary pressure to increase sharply, the risk of debt default to rise, and the financial markets to swing wildly. The U.S. tightening of liquidity has pulled up the exchange rate of the U.S. dollar and transferred the crisis outward, which has led to the tightening of global financial conditions and the slowdown of world economic growth, wreaking havoc on

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