In April 2021, inflation hit more than 4% in the U.S. and the world is holding its breath. If the Federal Reserve starts to raise interest rates to fight inflation, all nations – big and small – are going to face a higher cost of borrowing. For many governments, firms, and households drowned in debt such an increase can prove devastating. For countries like Ukraine that heavily depend on global markets this could be very serious. But will inflation in the U.S. get out of control? Will the Federal Reserve raise interest rates?
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(FILES) In this file photo The Federal Reserve building is seen on June 17, 2020 in Washington, DC.
