IMF Director Georgieva on CNBC
- The Fed will be guided by data
- Inflation is coming down but not fast enough
- As long as inflation remains above target the Fed will have to act
- The fact the economy is slowing down suggest the Fed will have to recalibrate policy
- The banking crisis has been a helping hand to the Fed.
- I don't think there is a banking crisis. There are vulnerabilities that we should've expected
- The banking crisis is contained but our message is be watchful for banking concerns
- Labor market is still very strong. Consumer is still very strong
- Credit crunch is not on the horizon
- Growth is going to be 2.8%. That is way above inflation levels but not great
- The average growth rate over the last few decades has been 3.8%
- Need to focus on productivity and protect price stability and financial stability
- Russian economy is going down; nothing to celebrate
- On China, it is a remarkable turnaround. Projecting 5.2% growth for this year.
- This year 2/3 of the growth will come from Asia