IMF chief defends rate hikes after Trump slams ‘crazy’ Fed

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NUSA DUA, Indonesia, Oct 11, 2018 (BSS/AFP) – IMF chief Christine Lagarde
on Thursday defended central bank rate hikes, calling them a “necessary
development”, after markets plunged in response to US president Donald Trump
blasting the Fed for going “crazy” with plans to raise borrowing costs again.

“It is clearly a necessary development for those economies that are
showing much improved growth, inflation rising, unemployment extremely low,”
Lagarde told a press briefing at the Fund’s annual meetings in Bali.

“It’s inevitable.”

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