whether,as expected, the Federal Reserve raises US borrowing costs this week, and the reverberations will be felt not just in America,but the global economy tooWall Street watchers are calling it the most seminal moment for the global economy since the collapse of Lehman Brothers unleashed a savage financial and economic crisis in 2008. This week, policymakers at the US Federal Reserve are finally expected to originate reversing the emergency measures they took as the world slid into recession.
Janet Yellen, and the Fed’s chair,had signalled that the central bank could raise interest rates from their record low of 0.25% in September; but the downturn in the Chinese economy, and the resulting turmoil in financial markets, and persuaded the Fed to stay its hand.
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Source: theguardian.com