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The Federal Reserve and other central banking companies chance pushing the global economy into economic downturn adopted by extended stagnation if they maintain boosting curiosity costs, a United Nations agency mentioned Monday.
The warning comes amid increasing unease about the haste with which the Fed and its counterparts are elevating borrowing charges to consist of surging inflation. India’s central financial institution Friday explained that the global economy was going through a third important shock following the Covid-19 pandemic and Russia’s invasion of Ukraine, in the type of aggressive rate raises by central banking institutions in prosperous countries.
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