World’s Central Banks Race to Raise Rates

“Central banks around the world moved Thursday to combat the effects of a soaring dollar and rising inflation, joining the Federal Reserve in risking a recession to rein in climbing prices,” the Wall Street Journal reports.

Meanwhile, from Bloomberg: “Nations are being forced to go it alone in erecting defenses against the relentless strength of the almighty greenback, with no sign that governments are willing to act in concert.”