Rising interest rates in US will hinder foreign economies

Developing countries are worried the Fed waited too long to begin its anti-inflationary campaign and will be forced to raise rates so aggressively it causes a hard landing that hurts the United States and developing countries alike.

“They would have been much better off if the Fed would have reacted more swiftly when the problem started’’ last year, said Liliana Rojas-Suarez, senior fellow at the Center for Global Development.