Fed's response to higher inflation in U.S. put pressure on developing countries: economist

STORY: Fed's response to higher inflation in U.S. put pressure on developing countries: economist DATELINE: Sept. 29, 2022 LENGTH: 00:01:59 LOCATION: Washington D.C. CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of street view of East Asia countries 2. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist STORYLINE: The World Bank said Monday that the developing East Asia and Pacific (EAP) region is projected to grow by 3.2 percent this year. According to the World Bank's newly released East Asia and Pacific Economic Update, the region's growth is projected to slow this year from 7.2 percent in 2021, before accelerating to 4.6 percent next year. The report noted that rising inflation abroad has provoked interest rate increases, which in turn have caused capital outflows and currency depreciations in some East Asia and Pacific countries. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist "I think the (U.S.) Fed's response to higher i