Crypto prices immediately came crashing down after Federal Reserve Chairman Jerome Powell announced they are increasing interest rates during an economic summit on September 21.
Now, in a not-so-delayed reaction, the United Nations is calling on the U.S. central bank and other large western regulators not to continue raising their interest rates, a UN agency says.
The Fed and other central banks worldwide raised their interest rates with the objective of containing the onslaught of inflation. The UN Conference on Trade and Development (UNCTAD) warns, however, that this could trigger a worldwide economic crisis.
JUST IN: United Nations says the FED and other central banks risk pushing the global economy into recession if they keep raising interest rates.
— Watcher.Guru (@WatcherGuru) October 3, 2022
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UNCTAD published its Trade and Development Report 2022 on Monday, in which it expressed concern about the possibility of a global economic calamity brought...
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