Why the Turkish Lira Is Falling Like a Rock

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Why the Turkish Lira Is Falling Like a Rock
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Turkey's embattled economy could get worse before it gets better, investors and economists fear

championed by Turkish President Recep Tayyip Erdogan. Mr. Erdogan argues that higher interest rates stoke inflation and lower rates will cause inflation to ebb. This is the opposite of what economies around the world have experienced through history.

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