Lagarde Says Trade Main Global Growth Risk, Recession Unlikely

Incoming European Central Bank President Christine Lagarde said the global economy is likely to dodge an outright contraction, though the trade tensions remain the top threat to the growth outlook. “It is not in the baseline to have a recession,” Lagarde said in a Bloomberg Television interview on Tuesday. “That said, it’s mediocre growth, it’s at risk because of essentially one major threat, which is the trade war that we see developing or brewing and the uncertainty it generates for investors.” The comments from the former International Monetary Fund leader come as she prepares to take the helm of the ECB at a precarious time for Europe and the global economy alike, as well as growing divisions inside the central bank.

from FA News https://www.fa-mag.com/news/lagarde-says-trade-main-global-growth-risk--recession-unlikely-51828.html