The Treasury secretary's glass-half-full outlook isn't shared by IMF chief.
The world’s finance ministers and central bankers are descending on Washington to discuss the best ways to respond to the lingering economic effects of the pandemic, the war in Ukraine, high interest rates and a banking system that looks more rickety than solid.“During the G20 in February, I said that the global economy was in a better place than many predicted last fall,” Yellen's prepared remarks say. “That basic picture remains largely unchanged.
“Prices of commodities like food and energy have stabilized. Supply chain pressures continue to ease,” she plans to say. “In the United States, our labor market remains strong. Inflation remains too high, although we’ve seen welcome signs over the past half-year that inflation has moderated."Yellen won't be all sunshine and rainbows. She'll also acknowledge the "downside risks" posed by Russia's war in Ukraine and the lingering effects of the pandemic.
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