The Federal Reserve prepares to raise interest rates even further to clamp down on inflation, but retailers warn that spending habits are already changing. Russia plans to withdraw from the International Space Station. And a Saudi-backed golf tour prepares a tournament just miles from the World Trade Center, infuriating families of 9/11 victims.
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About This Source - ABC News
American Broadcasting Company is an American commercial broadcast radio and television network owned by the Disney Media Networks division of The Walt Disney Company.
ABC News is primarily broadcast from the Times Square Studios in New York City.
9/11 is the abbreviated moniker for the civilian airliner attacks on the World Trade Center in New York City, USA, on 11th September 2001. The Pentagon was also targeted and a fourth airliner crashed when passengers overpowered hijackers. Around 3000 people died as a result of the airliner hijackings which took place on 9/11.
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. It extends from the Baltic Sea in the west to the Pacific Ocean in the east, and from the Arctic Ocean in the north to the Black Sea and the Caspian Sea in the south.
Russia spans more than one-eighth of the Earth’s inhabited land area, stretching eleven time zones, and bordering 16 sovereign nations. Moscow is the country’s capital.
The Soviet Union was dissolved in 1991 and since 1993 Russia been governed as a federal semi-presidential republic. Russia is a major great power, with the world’s second-most powerful military, and the fourth-highest military expenditure. As a recognised nuclear-weapon state, the country possesses the world’s largest stockpile of nuclear weapons.