U.S. tactics against inflation affects rest of world: report

NEW YORK, April 29 (Xinhua) -- As the Federal Reserve begins to raise interest rates to tackle the highest inflation the United States has seen in decades, its aggressive efforts can have major, unpredictable effects around the world, often with long-lasting, negative consequences for countries in the Global South, reported The New York Times on Thursday.

"And the United States will not be immune to worldwide economic trends. The inflation hawks should consider all of this as they figure out how to address rising prices in the United States today," said the report, adding that "history is a good guide to how destructive the Fed's policies can be for the rest of the world."