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

Economists say U.S. interest rate hikes to cloud outlook for emerging markets

STORY: Economists say U.S. interest rate hikes to cloud outlook for emerging markets DATELINE: July 28, 2022 LENGTH: 0:02:02 LOCATION: Washington, D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the U.S. Federal Reserve 2. SOUNDBITE (Spanish): MARIO CORREA, Mexican economist 3. SOUNDBITE (English): KIRIDA BHAOPICHITR, Research director for int'l economics and development policy, Thailand Development Research Institute STORYLINE: The U.S. Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points, the second in a row of that magnitude, as elevated inflation showed no clear sign of easing. The Federal Open Market Committee, the Fed's policy-making body, decided to raise the target range for the federal funds rate to 2.25 to 2.5 percent and "anticipates that ongoing increases in the target range will be appropriate." However, many economists around the world have voiced the concern that the U.S. interest rate hikes will cloud the outlook for emerging markets and will put countries wit

Thai economist says U.S. interest rate hikes add capital outflow risks, hurt economies

STORY: Thai economist says U.S. interest rate hikes add capital outflow risks, hurt economies DATELINE: June 25, 2022 LENGTH: 00:01:48 LOCATION: Bangkok CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): KIRIDA BHAOPICHITR, Research director for int'l economics and development policy, Thailand Development Research Institute 2. various of Thai economy STORYLINE: Kirida Bhaopichitr, a senior Thai economist from Thailand Development Research Institute, has said that the U.S. interest rate hikes will increase the risk of capital outflows in emerging economies, and will put countries with too much U.S. dollar-denominated debt in trouble. SOUNDBITE (English): KIRIDA BHAOPICHITR, Research director for int'l economics and development policy, Thailand Development Research Institute "(There) definitely will be risk for countries, especially countries that have a lot of capital inflows that are short-term and can flow out easily. So those countries definitely will face the outflows issue, because when their interes