Fed Shouldn't Have Raised Rates as Much as It Did, Dartmouth's Blanchflower Says

The video discusses the economic policies of the US and Europe, focusing on interest rates and the actions of the European Central Bank and the Federal Reserve. It critiques the Fed's past rate hikes and highlights the global economic slowdown, exacerbated by Brexit. The video calls for fiscal policy intervention, echoing sentiments from global economic leaders.

How does the text describe the relationship between the Fed's rate decisions and the global economy?

What is the significance of fiscal authorities in the context of the current economic situation?