Donald Trump good for US economy for now as trouble looms, says Christine Lagarde

The head of the International Monetary Fund says US President Donald Trump taking office is likely good for the US economy in the short term, though rising American interest rates and a strengthening dollar will challenge global trade.

AP February 12, 2017 16:30:06 IST
Donald Trump good for US economy for now as trouble looms, says Christine Lagarde

Dubai: The head of the International Monetary Fund says US President Donald Trump taking office is likely good for the US economy in the short term, though rising American interest rates and a strengthening dollar will challenge global trade.

Christine Lagarde said Trump's plans for additional investment in US infrastructure and his likely tax reforms will boost the American economy.

Donald Trump good for US economy for now as trouble looms says Christine Lagarde

Christine Lagarde. Reuters

She says: "We have reasons to be optimistic about growth in the United States."

However, Lagarde acknowledged that Trump's policies likely will lead to "tightening that is going to be difficult on the global economy."

She also defended globalisation and international trade at a time of growing protectionism in the US and elsewhere in the world.

Lagarde spoke on Sunday in Dubai at the annual World Government Summit.

Updated Date:

also read

US Grand Prix: Max Verstappen edges Lewis Hamilton for pole in front of 1,20,000 fans
Sports

US Grand Prix: Max Verstappen edges Lewis Hamilton for pole in front of 1,20,000 fans

Verstappen, who leads Hamilton by six points in the championship race, claimed his ninth pole of 2021 with a time of 1min 32.910sec, just two tenths faster than the British driver.

How organisers of Dismantling Global Hindutva conference are now ready with a ‘Field Manual’ to target opponents
World

How organisers of Dismantling Global Hindutva conference are now ready with a ‘Field Manual’ to target opponents

The purpose of the manual is to provoke young scholars in the West to launch attacks against anyone who dares to criticise the high and mighty academician

Saudi royal family reportedly gifted Donald Trump with fake tiger and cheetah fur robes
World

Saudi royal family reportedly gifted Donald Trump with fake tiger and cheetah fur robes

It is unclear if the Saudi royal family was aware of the fake furs or was deceived by a supplier. The Saudi Embassy in Washington declined to respond to the matter, as did a spokesperson for Trump