ECONOMY

IMF’s Lagarde rules out near-term recession in US

President Donald Trump and IMF Director Christine Lagarde at the G7 summit at La Malbaie in Quebec, Canada. (File photo: Reuters)

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 onThursday.

On a day when Wall Street has dropped more than two percent, 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.

However, she said the Federal Reserve was “probably going to slow down” its rate increases as they look at the economic data.

SHOW MORE
Last Update: Thursday, 6 December 2018 KSA 20:18 - GMT 17:18
Top
BREAKING NEWS

Send to a friend

Close
IMF’s Lagarde rules out near-term recession in US
Friend's name:
Friend's Email:
Sender's name:
Sender's Email:
Captcha Code
How are we doing?
X

How are we doing?

Name Name *
Email Email *
Country Country
Message Message *
Maximum 550 words allowed