According to US Treasury Secretary Janet Yellen, inflation has eased and will continue to fall this year in about 80% of economies. Although experts do not share this sentiment, the head of the department remains optimistic about the global economic situation.
Earlier, the International Monetary Fund and other analysts had predicted a widespread slowdown in the global economy in 2023. However, economic growth stood at 3.1%, with the inflation rate slowing down.
Despite the lingering risks and challenges facing the world, the global economy remains resilient, Yellen believes. She attributes this to the US economy growing at a blistering pace, which is driven by government policies aimed at supporting companies affected by the COVID-19 pandemic, as well as investments in domestic manufacturing, green energy, and infrastructure.
In January 2024, International Monetary Fund Managing Director Kristalina Georgieva said that the global economy had proven remarkably resilient. She stressed stronger-than-anticipated performance in 2023, which would likely underpin economic growth in the current year. At the same time, expectations of interest rate cuts could increase the chances for a soft landing for the US economy, the IMF representative noted.
