Fed's aggressive rate hikes may foreshadow global recession, Turkish economists warn
ISTANBUL, Sept. 30 (Xinhua) -- A stronger U.S. dollar arising from the Federal Reserve's aggressive interest rate hikes has intensified pressure on both developed and developing countries, and may lead to a global recession, Turkish economists have said.
The Fed's rate policies in its own pursuit of 2-percent inflation target have reinforced the greenback but caused a series of troubles worldwide, Mustafa Sonmez, a Turkish economist and writer, told Xinhua.