UN body warns central banks could trigger major recession

The UN Conference on Trade and Development says the way conditions are looking now, the global economy is heading for its worst downturn in recent memory. And pointing the finger at central banks in rich nations, which, in their aggressive campaign to fight inflation, are squeezing the financial arteries that are vital to the health of the rest of the world. So, what exactly is causing all of this turmoil? It starts in the US, where the Federal Reserve has raised its benchmark rates from zero to 3%, with the aim to taming inflation. Other major economies have followed suit to keep a lid on their own price pressures, and protect their currencies. For more we spoke to economists Bruno Verstraete and Taha Meli Arvas. #UnitedNations #InterestRates #Inflation