Washington’s financial policy leads to rise in poverty around the world, experts say
Consumers shop for meat at a Safeway grocery store as inflation continues to grow in Annapolis, Maryland, May 16, 2022. (PHOTO / CFP)
Aggressive and irresponsible financial policies adopted by the United States have triggered significant inflation worldwide, causing widespread economic disruption and a significant rise in poverty, especially in the developing world, global experts say.
In battling to contain runaway US inflation, which topped 9 percent in June, the US Federal Reserve has raised interest rates four times to the current level of a range of 2.25 to 2.5 percent.
Benyamin Poghosyan, chairman of the Center for Political and Economic Strategic Studies in Yerevan, Armenia, told China Daily that the rises have disrupted global financial markets, with many developing…
