Deepin Moments: Tearing up Petrodollar Deal, Feds Hit Back by Saudi Arabia, US Dollar Hegemony is Ending

Deepin Moments Nov 4, 2022 November 2 EST, the Federal Reserve opened its sixth interest rate hike of the year and raised rates for the fourth time by 75 basis points. Currently, the US benchmark interest rate has been as high as the 3.75%-4% level range. It is a dollar tightening not seen since the financial crisis in 2008 and the fastest tightening of US monetary policy in 40 years. This monetary tightening by the Federal Reserve in the name of curbing US inflation has not been able to curb the high US inflation. The US consumer price index has…