U.N. Calls On Fed, Other Central Banks to Halt Interest-Rate Increases – WSJ

In its annual report on the global economic outlook, the United Nations Conference on Trade and Development said the Fed risks causing significant harm to developing countries if it persists with rapid rate rises. The agency estimated that a percentage point rise in the Fed s key interest rate lowers economic output in other rich countries by 0.5%, and economic output in poor countries by 0.8% over the subsequent three years.

UNCTAD estimated that the Fed s rate increases so far this year would reduce poor countries economic output by $360 billion over three years, and further policy tightening would do additional harm.

via www.wsj.com