23 Nov What Global Finance Chiefs Are Saying About the Economy
Don’t celebrate too soon. That was the key message as policy makers and investors left Washington on Sunday after attending the annual meetings of the International Monetary Fund and World Bank.
For once the mood was upbeat. The IMF bumped up its forecast for global economic growth this year and next. Stocks are surging, credit spreads are tight and market volatility is low.
Still, the fund’s policy panel warned its 189 member countries that there’s “no room for complacency.” The recovery is still a work in progress with inflation below target in most rich nations, productivity sluggish and many not feeling the benefits of stronger demand.