The Fed has the world in its hands — and its aggressive moves are creating global economic chaos that could come back and hurt the US

From africa.businessinsider.com

As the US dollar grows stronger, that comes at the expense other currencies around the world. And the dollar has been getting a whole lot stronger through the back half of 2022 as the Federal Reserve has enacted historically large interest-rate hikes to fight inflation. The rally has placed central banks around the world in a race to see who can lift interest rates — and, by extension, the value of their money — faster to keep up. As it stands now, the Fed still commands a healthy lead — a designation that raises the stakes for any further policy moves it makes. And while the ongoing "reverse currency war" ... (full story)