A Turkish economist has said the U.S. Federal Reserve's (Fed) latest interest rate hike would not help relieve the country's rising inflation as it has gone off the road under current circumstances.
Murat Tufan, an analyst with Turkish broadcaster Ekoturk, points out that the U.S. authorities had failed to deliver an inflation warning to the market previously.
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On Wednesday, the Fed enacted the third consecutive three-quarter-point rate hike and signaled a more hawkish path ahead against the surging inflation.
Tufan cautioned that the Fed's recent actions would cause "destructive" damage to developing countries including Türkiye, urging the world to take measures against the greenback hegemony.
Produced by Xinhua Global Service
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