The global economy is likely to avoid a recession despite the hit to growth from U.S. President Donald Trump's tariff rollout, the head of the International Monetary Fund said Thursday.
The stop-start U.S. tariff plans have fueled levels of market volatility unseen since the COVID-19 pandemic, and most economists expect the imposition of new import levies will stifle growth and push up inflation, at least in the short term.
Trade disruptions "incur costs," IMF Managing Director Kristalina Georgieva told reporters in Washington on Thursday, adding that the Fund now expects "notable" cuts to growth — but no recession.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.