How the US Fed Rate Hike May Backfire on Global Economy

The US Federal Reserve is forecast to keep hiking interest rates until it peaks in March 2023 at 4.26%, prompting concerns that the tightening will drag the country deeper into recession, according to CNBC. The media's survey indicated the average respondent expects the Fed will hike 0.75 percentage points, or 75 basis points, on September 21.