The USD is the world's most liquid currency, used as the tool of choice for global finance. It is for that reason that we, as observers, must pay great attention to policy changes such as this.
The Federal Reserve has, historically, used the discount rate as a tool to 'test' market reactions to monetary policy. We are in extremely volatile markets, and raising the discount rate allows the Fed to observe the reaction their actions will have once they are reflected in the core 'Funds Rate'.
we are moving towards a global theatre where even though each actor (country) may be at different levels of economic growth, the technologies which exist to enable the globalisation stimulate high levels of transparency, meaning that each agent (companies, customers, suppliers, politicians, etc) will be accountable for their practices, and so must act with greater consideration (and less arrogance!)
organisations will often behave in international economic theatres (such as China) with the same operational processes and assumptions as their 'home' environments (such as Australia) with the assumed protection of the legal, political and other systems of their 'home' environments.
What analysts mean by 'game changing' is, in fact, the level of naturalisation of technology. This is the degree to which a technology becomes an intuitive part of human life.
Saying people have the ability to participate in decisions, and actually ensuring they can, should not be mutually exclusive. Our nations, economies and companies can perform far better where we genuinely allow and encourage participation in governance and policy from all stakeholders.
When we talk of economic confidence, business confidence, or even confidence in global markets, we are talking of the mindset of the majority of participants in that market. In a 'booming' market, participants feel happy, with little sense of risk- so they are happy to invest in their businesses, create jobs, buy property, and drive strong economic figures.
Those who are suffering the consequences of these price increases are rarely (if at all) responsible for their creation- leading to an exacerbated (and right) sense of injustice.
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