With the managing director of the International Monetary fund, who spoke at the annual wall street journal ceo council. She is the managing director of the International Monetary fund speak at the annual ceo Council Meeting in washington, d. C. Give us a primer on the u. S. Economy talking about the international economy. Kristalina georgieva is the managing director of the new chief of the imf. Lets see what her prognosis is for markets outside the United States. [applause] happy to have you here. Lets get right into it. We had an upbeat view of the us economy and complaints about the global economy. Lets start with the u. S. Despite everything we have seen a slowdown in us growth this year and a slump in manufacturing, decline in business investment. From your perch, what is your outlook for the us economy in the coming years . The us is in a good place. People in this room have contributed to that, the longest in history, expansion, lowest in the last 50 years. To see that wages, an
Just said, we have also seen a slowdown in u. S. Growth this year and a slump in manufacturing, a decline in business investment. From your perch, what is your outlook for the u. S. Economy in the coming year . Well, the u. S. Is in a good place. And people in this room have contributed to that. What we lave is the longest in history, expansion, lowest in the last 50 years unemployment. What we value particularly is to see that wages are going up in the u. S. And wages of lowpaid workers are outpacing wage growth on average. That is driven by productivity gains, very important to recognize, but you are right that there are issues. Manufacturing and agriculture, they are on the softer side of the economy. What we see is consumption and services being the drivers of that good growth. We see in the United States, like everywhere, prolonged periods of low Interest Rates leading to what . More leverage. Households,in the corporates. Do you see this as a vulnerability Going Forward . We see
Talking about the international economy. Lets take it a step further and ask crystal lena to join us. Shes the new managing director of the new chief of the imf, lets see what her prognosis is for your markets outside of the United States. Welcome. So happy to have you here. So lets get right into it. We heard an upbeat view of the u. S. Economy and complaints of the global economy. Lets start with the u. S. Despite everything mr. Kudlow just said, we have seen the slow down in u. S. Growth this year and a slump in manufacturing decline in business investment, from your purge, thats your outlook for the u. S. Economy and the coming year. Well, the u. S. Is in a good place. And people in this room have contributed to that. What we have is history expansion, lowest in the last 50 years of unemployment. What we particularly see is that wages are going and wages of low paid workers are out facing wage growth on average, thats driven by productivity gains. Theyre porimportant to recogni. Yo
States. Thank you. So happy to have you here. Okay. So, lets get right into it. We heard an upbeat view of the u. S. Economy and complaints about the global economy. With. Despite everything mr. Kudlow just said, weve also seen a slowdown in u. S. Growth in year and a slump in manufacturing, decline in business investment. From your perch, whats your outlook for the u. S. Economy in the coming year . Well, the u. S. Is in a good place, and people in this room have contributed to that. We have what is a longest in histo history expansion, lowest in the last 50 years unemployment. What we value particularly is to see that wages are going up in the u. S. , and wages of lowpaid workers are outpacing wage growth on average. That is driven by productivity gains, very important to recognize. But youre right, there are issues. Manufacturing and agriculture are more on the soft footing than the rest of the economy. What we see is consumption and services being the drivers of that good growth. W
Welcome to daybreak asia, to you live from new york, sydney, and cutting down to the major market opens in asia. The top stories issue sops up ahead of the u. S. Holiday, traders looking at jobs reports and putting bets that the fed is near the end of the tightening cycle. Country garden said to have made a payment on a bond with a separate you on no. And softbank lining up biggest customers as Strategic Investors for their multibilliondollar chipmaker ipo. We are seeing some Downside Pressure today, but muted after the s p 500 saw its best week since june. We are in the Labor Day Holiday weekend in the u. S. , heading towards thin trading. What akin to friday it was interesting because u. S. Stocks rose but they faded after an initial rally as bond yields started climbing. We have a Strong Manufacturing number offsetting that optimism from the jobs data which showed more than of a controlled cooling which could perhaps lead to the fed pausing on its tightening again in september. We a