IMF Chief: ‘Optimistic’ About U.S. Economy While Stronger Dollar, Higher Interest Rates ‘Worrying’

Yesterday I caught the following on the website of Agence France-Presse. AFP reported:

International Monetary Fund chief Christine Lagarde on Sunday voiced optimism for US economic growth under President Donald Trump but warned it could herald trouble for the rest of the world.

“From the little we know, and I will insist on the little we know, because this is really work in progress… but from the little we hear, we have reasons to be optimistic about economic growth in the United States,” Lagarde said at the annual World Government Summit in Dubai.

Lagarde predicted tax reform and more investment in infrastructure were both likely under Trump…

“Now that’s the good news,” said Lagarde. “The more worrying news, if you will, is that it will have consequences on the rest of the world, and we are seeing it.”

She highlighted the strength of the dollar against other currencies, predicting a hike in interest rates regulated by the Federal Reserve.

“That’s a tightening that will be difficult on the global economy and for which economies will have to prepare,” said Lagarde.

(Editor’s note: Bold added for emphasis)

Hmm. Could the Federal Reserve use Lagarde’s concern regarding higher U.S. interest rates making things “difficult” for the global economy as one reason not to raise rates next month?

The other weekend, Euro Pacific Capital CEO Peter Schiff claimed in his YouTube vlog:

The reason the Fed didn’t give a clue that it might be raising rates in March, is because it has no intention of doing so.

(Editor’s note: Bold added for emphasis)

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

Source:

“IMF’s Lagarde ‘optimistic’ about U.S. economy.” Agence France-Presse. 12 Feb. 2017. (https://www.yahoo.com/news/imfs-lagarde-optimistic-us-economy-104123263.html) 13 Feb. 2017.

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