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Business Matters: US businesses feel pinch as rates rise

US businesses feel pinch as rates rise

28/07/2022 GMT

BBC World Service - Business Matters, US businesses feel pinch as rates rise

American business owners react to the Fed's latest measure against soaring prices.

American businesses react as the US Federal Reserve pushes interest rates up once again. It's the latest move in an effort to curb soaring prices - but is it too late to act?

The US Federal Reserve has pushed interest rates up once again. It's the latest move in an effort to curb soaring prices, but some analysts believe it's too late to act. We speak to two businesses - Oregon bakery owner Irina Sirotkina and Virginia store owner Kevin Hubbard - about the effect it will have on them.

We also visit Bangladesh, the latest southern Asian country to ask the IMF for a bailout. Wahid Choudhury runs a software business there, and explains why there's a real sense of fear surrounding the economy.

To discuss the issues of the day, Business Matters is also joined by two guests on the other side of the world: Paddy Hirsh, contributing editor at NPR in the US; and Moneeza Butt from KPMG in Karachi.

(Picture: Traders on the floor of the New York Stock Exchange react to the Fed's latest decision. Credit: Getty Images).

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