IMF Chief Sees US Inflation Moderating, Urges Cooperation with China to Bolster Global Growth
• IMF's Georgieva says inflation is subsiding in the US and interest rates will moderate in 2024 amid a strong job market • Americans should "cheer up" about the economy as they will see relief from high prices, according to Georgieva • The Fed's decisiveness in raising rates brought desired impact without pushing the US into recession • Georgieva urges US and China to compete rationally and cooperate on globally important issues • Further fragmentation of the global economy could reduce GDP by 7%, on par with total output of France and Germany