(Bloomberg) -- The US economy looks on track for a soft landing as monetary policy cooled inflation without tipping the economy into recession, according to the chief of the International Monetary Fund, who also credited the world’s biggest economy for helping support global growth as other nations slowed.
The Federal Reserve broadly “got it right” by holding interest rates at their highs before the half-point cut earlier this month, Managing Director Kristalina Georgieva said in an interview with Bloomberg Television at the Global Business Forum in New York on Tuesday.
“We are in a very good place,” she said in answering a question about US inflation. “The US has helped the world economy to stay afloat in this very difficult time.”
Georgieva, who is set to begin a second five-year term leading the global organization on Oct. 1, also credited emerging markets in Asia with helping to shore up expansion. The IMF sees the global economy growing 3.2% this year, she reiterated, with the fund due to update its forecast in the World Economic Outlook next month during its annual meetings.
Georgieva is in New York for the United Nations General Assembly, and will head Thursday to Bretton Woods, New Hampshire, with World Bank President Ajay Banga for an event focused on the future roles of the institutions.
©2024 Bloomberg L.P.