Christine Lagarde, International Monetary Fund Managing Director, spoke with Bloomberg Television’s Tom Keene today about the IMF’s forecast cut for U.S. GDP growth in 2014, how she views the U.S. economy on a global scale and French politics. She also explains why the IMF recommends an increase in the U.S. minimum wage to kick start growth.
Lagarde said, “We have revised downward the 2014 numbers, but we do not think that it will be a downward spiral. We believe that 2015 will be up 3 percent.”
According to Lagarde, the U.S is still the locomotive of the global economy, “because it’s one of those very large advanced economies and the largest economy in the world to this day. We also believe that some of the emerging markets are going to slow down as China has begun doing going forward.”
source: Bloomberg Television