So my plea to Chair Yellen earlier this week to stop the stimulus, was immediately countered by the IMF (International Monetary Fund) and their Chair, Chirsting Lagarde.
IMF Lowers it USA Growth Forecast
This from their recent USA directed report :
…steps should be taken to approve and implement a credible medium-term fiscal consolidation plan so as to provide the flexibility for more near-term fiscal support to the economy….
And here is a chart from the IMF on their feared increase in rates:
As mentioned in our Monday post, we disagree, of course no one at the IMF asked us. It is certainly easy to see why the FOMC’s job is not easy.
Bottom line, we think the US economy is stronger than what the IMF thinks….good news, we will find out in a few quarters….. Markets are still frothy though !!!
Have a Great Day! Sorry for all the FED talk, but it is so topical, we had to jump in !
John A. Kvale CFA, CFP
PS If you happen to be an economic nerd like me and want to listen to the entire press conference here is the link. PSS Here is a great interview with Bloomberg’s Tom Keene just after the press conference. PSSS Due to a death in the family and an adjusted turn around business trip, I will be traveling the remainder of the week. http://www.jkfinancialinc.com http://www.street-cents.com 8222 Douglas Ave # 590 Dallas, TX 75225