The Federal Reserve’s landmark decision to raise its benchmark interest rate is already beginning to ripple through the global economy, boosting international stock markets Thursday, but raising deeper questions about whether troubled countries will be able to withstand higher rate and forcing ordinary households to rethink their investments.
The move by America’s central bank is the first step in what is expected to be a protracted campaign to return interest rates — and the nation’s recovery — back to normal after seven years of unprecedented stimulus. The Fed pumped trillions of dollars into the economy and slashed the influential fed...
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