Economy

The UN is urging the Fed and other central banks to halt interest rate hikes.

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The Federal Reserve and other central banks risk pushing the global economy into a recession followed by prolonged stagnation if they continue raising interest rates, a United Nations agency said on Monday.

The warning comes amid growing unease over the speed with which the Fed and its counterparts are raising borrowing costs to curb rising inflation. India's central bank said on Friday that the global economy is facing a third major shock after the Covid-19 pandemic and Russia's invasion of Ukraine, in the form of aggressive rate hikes by central banks in rich countries.

Jéssica Esteves
Jessica Esteves
I'm Jéssica Esteves, an article writer with a degree in Journalism since 2021. I live in Itu, SP, and I'm 28 years old. I work with blogs, writing texts about technology, well-being and lifestyle, always seeking to add value to people's lives. My writing is clear and accessible, the result of thorough research. I'm passionate about cats, which bring me inspiration and joy. I am dedicated to contributing positively to the online community, creating content that is true tools of transformation and personal growth for my readers.