The International Monetary Fund’s new strategy chief, Christian Mumssen, urged government officials to maintain credibility in fiscal and monetary policy with the aim of keeping prices stable amid global economic uncertainty.
Global Economic Uncertainty
Mumssen cited a rapid succession of major shocks to the economy in recent years, including the coronavirus pandemic, cost-of-living crises, trade frictions, and wars in Ukraine and the Middle East. He noted that the global economy has proved remarkably resilient in the face of these forces, but the sheer scale of what is under way creates an exceptionally high degree of uncertainty.
Governments must pay close attention to sound public finances and debt, inflation, jobs, and growth, he said, adding that price stability is likely to be threatened by frequent supply disruptions. Mumssen also emphasized the need to address fast-moving technical innovations, including ensuring that the rapid AI transformation translates to inclusive growth.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
