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IMF Podcasts
Pierre-Olivier Gourinchas on the Global Outlook: Steady but Slow
May 2, 2024
IMF Chief Economist Pierre-Olivier Gourinchas discusses the steady but slow global economic outlook, emphasizing resilience and recovery. Topics include factors contributing to global economic growth, challenges in emerging markets, and the impact of geopolitical tensions on the economy. Insights into the collaborative process behind the World Economic Outlook report are also highlighted.
29:12
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Quick takeaways
- Global economy shows resilience with steady growth preventing recession.
- US faces fiscal consolidation challenges to balance stability amidst global economic shifts.
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Overview of Global Economy Resilience and Growth
The global economy has displayed remarkable resilience despite facing challenges. Inflation is expected to decrease, with median inflation projected to decline to 2.8% by the end of this year and further to 2.4% by the end of 2025. The economy shows signs of a soft landing, maintained by a combination of supply-side factors like increased labor force participation and productivity, as well as resilient private and public demand globally. This steady growth trajectory has prevented a global recession, an achievement attributed to harmonizing supply and demand factors.
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