Late last week, it was revealed that the International Monetary Fund (IMF) had serious concerns regarding the U.S. economy and the “over-appreciation” of the dollar. The IMF’s Managing Director, Christine Lagarde, spoke of a lack of “tangible signs of wage or price inflation” and “pockets of vulnerability” within the economy itself. In a surprising move, Ms. Lagarde even recommended to the Federal Reserve that they delay interest rate rises until 2016.
With the recent news that the U.S. economy actually shrank by 0.7% in the first quarter of 2015, she also reported that the IMF considered the U.S. dollar to be overvalued. Ms. Lagarde warned that “continued over-appreciation is a potential risk.”
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