While the U.S. government is scrambling to lower inflation for Americans, there’s a growing concern about what rising interest rates means for the rest of the world, especially poorer countries. 

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It has been said that when America sneezes, the world catches a cold, and White House economic reporter Jeff Stein says in this case, it could be much worse than a cold.

“We're on the precipice of a tsunami of debt slamming into dozens, if not hundreds, of countries with rising interest rates in the U.S.,” Jeff said. “That could have tremendous consequences, tremendous humanitarian impacts, tremendous impacts for hunger across the globe.”

As the Federal Reserve prepares to raise interest rates again this week, Jeff explains how poorer nations could suffer from the U.S. efforts to slow inflation. Can economic policymakers prevent a crisis?

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