For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, the head of the International Monetary Fund said on Sunday. READ:
is standing apart and may avoid the outright contraction that is likely to afflict as much as a third of the world’s economies.
The “US is most resilient,” she said, and it “may avoid recession. We see the labor market remaining quite strong.” But that fact on its own presents a risk because it may hamper the progress the Fed needs to make in bringing US inflation back to its targeted level from the highest levels in four decades touched last. Inflation showed signs of having passed its peak as 2022 ended, but by the Fed’s preferred measure, it remains nearly three times its 2% target.
“This is … a mixed blessing because if the labor market is very strong, the Fed may have to keep interest rates tighter for longer to bring inflation down,”, in the most aggressive policy tightening since the early 1980s, the Fed lifted its benchmark policy rate from near zero in March to the
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Global economy faces tougher year in 2023, IMF’s Georgieva warnsFor much of the global economy, 2023 is going to be a tough year as the main engines of global growth—the United States, Europe and China—all experience weakening activity, the head of the International Monetary Fund said on Sunday.
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Global economy faces tougher year in 2023, IMF’s Georgieva warnsFor much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, the head of the International Monetary Fund said on Sunday. | Reuters
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