US central bank raises interest rates, warns of impact from Ukraine war
21 March 2022 | 10:08 am
The United States Federal Reserve has raised interest rates for the first time since 2018, as it tries to cool inflation, which is running at the highest level in 40 years. The Chair of the central bank, Jerome Powell, said the implications of the Russian invasion were "highly uncertain", pointing to the risk of disruption to supply chains. Also today, we look at details of the French government's plan to ease the economic impact of the war in Ukraine.
The vote by lawmakers in the Democratic-majority House follows mass shootings in Uvalde, Texas, and Buffalo, New York. The measure is unlikely to pass in the Senate.
Russia's war in Ukraine is derailing the global economy's recovery from the pandemic. The Organisation for Economic Cooperation and Development (OECD) is the latest to slash its forecast for economic growth, warning of high inflation and a possible food crisis. Also in the show: India's central bank raises interest rates for the second time in less than a month, while Turkey's government refuses to do so, despite spiralling inflation.
Almost 10 months ago, Afghanistan fell into the hands of the Taliban. The hardline Islamists' return to power led to a mass exodus of the Afghan population, with the US taking in some 78,000 refugees. California received the largest number, followed by Texas, where some 10,500 Afghans are already calling the Lone Star State home. Texans are proud to welcome them, as our correspondents report.
The 8.6% yearly increase is the biggest since 1981. President Biden's efforts to stem the tide are having little effect as the impact of Russia's invasion of Ukraine continues to hit global economies.
At rallies held across the US, protesters had one message for lawmakers: They have had enough. Protesters called for stricter gun laws following another spate of mass shootings.
In a bid to reassert US influence in Latin America and counter Chinese influence, Biden signed a new pact to take more laborers and offer greater humanitarian assistance to migrants.
The US Defense Secretary said Chinese military activity around the self-governing island threatened to change the status quo. Lloyd Austin said Washington would continue to stand by Taiwan at an event in Singapore.
Starting on Sunday, international passengers flying to the United States will no longer have to present a negative COVID-19 test before boarding the plane.
The court fined the foundation that owns Wikpedia for refusing to remove articles about Russia's invasion of Ukraine, war crimes in Bucha and related topics.
The Yellowstone National Park was closed down for the first time since 1988 due to torrential rains, flooding and melting snow. The park was just opening for the summer tourist season.
Former US President Donald Trump's closest advisors and family described the effort to push election lies. His former Attorney General William Barr at one point said he was "detached from reality" in Monday's hearing.
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