of some governments, these of each human rights as the most important factor and the institutionalization of the violation of your own right. so done in san is it any that protested, continue to be arrested? did i did both of many been killed the government if also calling the resistance by blocking the internet, making it harder for people to organize this all right, that's all for now, but please stay tuned for all the latest global businesses coming right up after the show and remember, you can always get all the news on our website at c, w dot com, until thanks for joining us. ah, ah, what people have to say matters to us. but me, that's why we listen to their stories. reporter every weekend or on

d w. no love has no limit to love is for everybody. love is live. i love matters and that's my new podcast. i'm evelyn sharma. and i really think we need to talk about all the topics that north divide and denied that this. i have invited many deer and well known guests, and i would like to invite you to an end ah, the federal reserve hikes interest rates again. well, another rise in borrowing costs help bring the highest u. s. inflation for 40 years under control. we'll get some expert opinion and taking matters into her own hands, meet the lebanese by corolla who took back the money that she says is rightfully

hers. this is database business on robots in berlin. welcome to the program. the feds fight against inflation continues the u. s. central bank has raised interest rates by 3 quarters of one percent. its 5th rates hike this year. u. s. borrowing costs are now at the highest since the 2008 global financial crisis. the aggressive program of rights sites aimed to tame rising prices for everything from food to clothing. the fetters as decision on wednesday comes with us in place and persisting at over 8 percent. is fed chairman jerome pow over coming months, we were looking for compelling evidence that inflation is moving down consistent with inflation returning to 2 percent. we anticipate that ongoing increases in the target range for the federal funds rate will be appropriate. the pace of those increases will continue to depend on the incoming data and the evolving outlook for

the economy. with today's action, we have raised interest rates by 3 percentage points this year. at some point, as the stance of monetary policy titans further, it will become appropriate to slow the pace of increases while we assess how our cumulative policy adjustments are affecting the economy and inflation. mo, discuss the reaction of corporate america to the federal reserves decision without correspondence in new york shortly. but 1st, let's get a better understanding of the feds approach. i'm joined by job carrion, whose chief economist at the keenan institute of private enterprise in north carolina. thank you. very much for joining us on d to we business. how easy a decision was this for the fed because there is a balancing act to be performed is not it's great to be here. so i think all of these decisions are really hard for the fed because as you say. ready they're trying to balance fuck fighting inflation and really showing that they're fighting inflation and being very, very, indicating and being very vigilant. and they know that this is the key problem and

the risk of causing a recession by these rate hikes. the challenge is that monetary policy is a very blunt instrument. basically what they have to do is they're, they're hammering down on demand in order to slow inflation. and part of the problem is that are met. much of the problem is that there are supply challenges or, or their significant problem of supply challenges of labor shortages. and the fed can't do that, can affect that by raising rates or even cutting rates, what they really need but, but they need to slow demand and so, and they need so inflation. so they have to go with slowing demand and risking or recession and jump out appears to have indicated that moral rights rises on the way. i mean, how high can ago we keep getting these point 75 percent rises? well, they just, they did a quite an aggressive shift in, in their summary of economic projections. the fed puts had the members of the f o.

m. c put at a summary projections. and they raised their target, their estimated year and target funds rate by one full percentage point, which basically says they anticipate another one and a half percentage. the percent were percentage point rise between now and the end of the year, which means some combination of 75704075 basis points, 3 quarters of percentage point half a percentage point and our quarter percentage points. so it could be 27517515125. we don't know that there's no specificity that but they, they look like they're going to continue to be quite aggressive. us already entered a technical recession last quarter. is it going to go deeper into recession? is that is not just a fact now with the rest of 2022 brief if you can. so i'm going to push back a bit on that. that while there were 2 negative quarters in g d, p,

the employment data on other economic data and even the gross domestic income, which is another measure of economic output, we're all positive with employment data be very strong. so i don't think, or i strongly feel we were not in recession in the 1st half of the year. and the data that we have suggests that we are not in a recession in the, in the 3rd quarter. and based on the economic fundamentals that we have, i don't think that, that we're going to be there in the next quarter in the 4th quarter. the one that we're about to begin going into 2023 i think is really where the danger of the fed lurks. and i think if given all the positive fundamentals, if there is a recession and i put it at about a 5050 chance, which is still very high probability that will be at the end of 2023 in early 2024. i can tell kind from that came in the state of private enterprise. thank you so much for reacting to that, that decision for us. thank you. let's actually turn to our financial correspondent

in new york. he ends quarter for even more on this a yes. yes. businesses had been expecting this rates rise, things fair to say, but what does actually mean for them? and i mean, john paul made it to a pretty clear he said there's no way of wishing away inflation and it's never painless, certified inflation. i mean, what the federal reserve is doing here or was making money more expensive is sir to actually push the companies to spend less so. so that's a direct effect there. does serve interest rate increases that are having on us businesses and then also the higher the rates in the united states. you also saw this sir, push for the us dollar in comparison to a whole basket of other currency as meaning when you're in usa exporter, i mean that's going to hurt your profit. been your bring your money back home from overseas. the behavior is a fair to offer new sets. the tone for other central banks doesn't have several

businesses outside of the state. so. so be taking note of today's decision. yeah, clearly i mean, you will see that quite often that when something had been sent the spades and specially walter was the federal reserve firm. other, a central bank so follows you would actually, i believe this week, a load we have about 12 to 13, a central banks around the globe who are toying with some increasing and their rates into a certain sense. i mean, they, they have to because the wider the gap between rates in the united states and somewhere else and a planet, i mean, that pushes earl or ports a lot of capital into the u. s. system and other countries. one, bed capital 2, and then also when we talk about term bit higher rates in the u. s. and 3rd, the effect that that has on the dollar that clearly is also affecting our business . so somewhere else around the globe, maybe one little positive effect that those rate increases. might have you see that quite off the higher dollar as the more or, or the, the,

the bigger the drop in commodity prices. so that actually could be as smart as not positive of what we're seeing right now. and the dollar went to its highest rate for 20 years against the euro, didn't after this. so thank against caterine yacht for us. now let's take a look at some of the other global business stories making the news as well. apple could be making one of 4. i phones in india by 2025, according to j. p. morgan, the tech giant is moving some production out of china, mid mounting geopolitical tensions, and strict coded locked downs. apple is expected to move about 5 percent of iphone 14 production from late 2022 to india. hong kong has lost its position as the global aviation hub due to china's 0 cove. it policy that's according to the head of the airline st. iota, the group warranty industry, the industry pandemic recovery would be slowed if beijing kept up the policy that

germany's largest gas in bought a uniform has been nationalized, the german government announced the measure on wednesday to prevent the company going bankrupt. unit has been caught up in the ongoing energy crisis after russia stopped almost all natural gas flows to germany and was widely seen as retaliation for sanctions over the war. and ukraine. with no cheap russian import, juniper has had to buy gas elsewhere, much higher prices. german government now how it's 98.5 percent of unit stock though. after buying out finish energy firm for them is unit for c o, who welcomed berlin's decision. uh huh. and we have always pointed this out for a company who had gone the bank roemer. it would certainly have triggered a chain reaction and the german gas applied probably all the way to the german electricity supply or even beyond germany's borders. and in this respect, i think everyone was in agreement that such

a chain reaction must be prevented. and that's what's happening now with this stabilisation package and stop. now, lebanon's banks are expected to be closed in definitely following a series of armed robberies. lebanese savers, frustrated by their country's economic implosion, have been matters into their own hands and all inspired. are one woman. both the sum of this is the moment a woman holds up a bank in beirut. am i? it's on her can, will die. the weapon she's holding is a toy gun, and the $13000.00 euro she runs out with she believes is rightfully hers. the funds will be used to pay for cancer related treatment for her sister until this moment, she hadn't been able to access the money. was what don't think that senior authority figures and lebanon do not have interest with the banks. they're all in cahoots to steal from us and leave us to go hungry and die slowly. why?

his wife in the country were thousands of people have been locked out of their savings. the 28 year old interior designer is being hailed as a hero for taking hers back. since her fees as bold act 7, others of held up banks to access their own money. 3 years ago banks and lebanon, imposed controls at froze a savings account of ordinary individuals. over night. they claim to help easy economic crisis, but with people unable to access their money, things have gotten worse. depositors say that bank owners are lending their money to the government in return for high interest payments. the obviously a few mishma. what is happening is unacceptable, and the most responsible party is the lebanese state, but is still dealing with this issue in a wrong way. we go to our remote, the world bank has called a crisis, a deliberate depression, orchestrated by the countries elite. the government says it is working to secure a 3000000000 euro bailout from the i m f. meanwhile, ha fees and her sister will now be able to pay for her sister's treatment. i just

thought for mind as the top business story with following for you this hour, the u. s. federal reserve has raised interest rates by 3 quarters of one percent. it's the 5th increased by the central bank this year as it tries to bring the worst inflation in for decades under control. that's all from me on the business team here in berlin for more to head over to our website. either way, dot com slash business, or of course, the d. w. news, youtube channel. and you can fight on facebook as well as d, w dot, till next time. with one continent, 700000000 people with their own personal stories. europe, with every day life,

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