Wednesday 19 December 2018
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business-standard - 13 days ago

IMF s Lagarde: Don t see elements of recession in near term

Despite some uncertainty and market volatility, the United States is not likely to see an economic contraction in the near term, IMF chief Christine Lagarde said Thursday. On a day when Wall Street has dropped more than two per cent, Lagarde said there s a question mark about growth prospects going forward but the concerns are a little bit overdone. I don t see the elements of recession in short order, she said on CNBC, and the IMF is forecast 3.7 per cent US growth next year which is not bad. However, she said the Federal Reserve was probably going to slow down its rate increases as they look at economic data. The US central bank has raised its benchmark lending rate three times this year and is widely expected to do so again on December 19 but has signalled that it may slow or even pause next year as the economy loses some steam. Lagarde declined to make a recommendation to Fed policymakers but said their moves will depend on their reading of the state of the economy, ...

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