U.S. economic mismanagement burdens world with economic woes: experts

STORY: U.S. economic mismanagement burdens world with economic woes: experts DATELINE: July 30, 2022 LENGTH: 00:02:14 LOCATION: Singapore CATEGORY: POLITICS/ECONOMY SHOTLIST: various of U.S. Federal Reservevarious of street view in U.S.various of containersSOUNDBITE 1 (English): LAWRENCE LOH, Director of the Center for Governance and Sustainability at the National University of SingaporeSOUNDBITE 2 (English): JIN SONG, Adjunct professor at Nanyang Technological University of SingaporeSOUNDBITE 3 (English): LAWRENCE LOH, Director of the Center for Governance and Sustainability at the National University of Singapore STORYLINE: Analysts say the root cause of the U.S. Fed's interest rate hikes is economic mismanagement on the part of the U.S., and that the Fed's decision is further burdening the world with economic woes. 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. SOU