The U.S. central bank ended an era of some of the lowest borrowing costs on record this Wednesday.
The Federal Reserve raised its benchmark interest rate by up to a quarter of a percent, the first rate hike in more than three years.
Initially, the Fed wanted to wean businesses and consumers off low borrowing costs during the COVID-19 pandemic’s early phase.
But now it’s firefighting some of the highest inflation in decades, with Russia’s attack on Ukraine blamed for sending gasoline prices soaring.
Afghanistan has long been dependent on foreign aid to survive. Once the Taliban took control last August, much of that was shut off, plunging the country into economic collapse and now millions struggle with hunger.
The Federal Reserve has begun to raise interest rates and that's rattled the U.S. stock market.
The tech sector has been particularly hard hit with some company share prices falling more than 40 percent since November.
