1/16/2024 0 Comments After effects loop wiggle express![]() ![]() It’s all a bit reminiscent of the Fed’s Paul Volcker-led anti-inflation campaign in the early 1980s. And with the Fed determined to keep driving rates up to quell inflation - even if it means sinking the US and global economies into recession - there’s little that most long-time currency watchers see to brake the dollar’s climb. It’s up 15% against a basket of currencies since mid-2021. The greenback now stands at an all-time high, according to some gauges. Its ascent is the result primarily of the Federal Reserve’s aggressive rate-hiking - it raised by another 75 basis points on Wednesday - and has left a trail of devastation: Driving up the cost of food imports and deepening poverty across much of the world fueling a debt default and toppling a government in Sri Lanka and heaping losses on stock and bond investors in financial capitals everywhere. The dollar, the currency that powers global trade, is on a tear that has few parallels in modern history. ![]() PM Modi transfers Rs 17,000 crore to 85 mn farmers under PM Kisan ![]()
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