This Wednesday, the U.S. Central Bank ended an era of record low borrowing.

The Federal Reserve raised its benchmark interest rate from zero to around a quarter of a percent, and it’s only a fraction.

The Fed’s decision will have a huge impact on the U.S. economy not long recovered from the pandemic and now facing huge uncertainty over inflation worsened by Russia’s attack on Ukraine.

CGTN’s Owen Fairclough reports.

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