Bags Drop After ‘Pain’ For US Announcement & More Latest News Here

Juarez City- Stock markets in the United States fell sharply after Federal Reserve Bank President Jerome Powell announced that the country’s economy will suffer from measures that need to be taken to reduce inflation.

In a speech delivered in Kansas, the head of the Central Bank mentioned that very soon businesses and households will suffer from rising interest rates.

If this is not done, economic conditions in the future would be much worse, he argued.

After the announcement, major stock markets fell as much as 3% in the case of the Nasdaq.

He further warned that rate hikes could be high if action was needed.

This will make loans of all kinds more expensive in the country, mortgages, cars and government debt.

Bags drop after announcement of ‘pain’ for the United States
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