The Federal Reserve is laser-focused on stemming price increases in the United States. But countries thousands of miles away are reeling from its hardball campaign to strangle inflation, as their central banks are forced to hike interest rates faster and higher and a runaway dollar pushes down the value of their currencies.

(SOURCE) https://www.cnn.com/2022/09/28/investing/fed-interest-rates-dollar-global-consequences/index.html