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Tuesday, September 11, 2018

Why can't the Fed save Turkey?

Why can't the Fed save Turkey?

Jeff Spross REUTERS/Murad Sezer
September 10, 2018 S

Turkey's currency crisis shows no signs of abating. The lira has lost 40 percent of its value relative to the U.S. dollar so far this year. That's making dollar-denominated debts throughout Turkey's economy much harder to pay off. And that threatens a potential financial crisis that could take down banks and markets well beyond Turkey.

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