US interest rates highest in 14 years after fed rate hike, will have ripple effects in India
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Inflation in the US has hit the highest levels in four decades, and millions of Americans are struggling with rising household expenses. For 44 per cent households this means a moderate increase in prices but no lifestyle changes, but for 12 per cent the impact of inflation is severe. This has pushed the US Federal reserve to hike interest rates to a 14-year high, in order to control cash flow and reduce inflation.