IMF Cautions America Over Runaway Government Spending ‘Out of Line With Long-Term Fiscal Sustainability’
Secretary Yellen defends the Biden administration’s profligate spending, stating that ‘from the start of the Administration, President Biden has made clear that American isolationism was over.’
While Treasury Secretary Yellen is touting the end of “American isolationism,” the International Monetary Fund is taking aim at the optimism of American policymakers, arguing at its annual meeting at Washington this week that America’s runaway spending is unsustainable.
Ms. Yellen is pledging to further economic ties with American allies and emerging markets to strengthen supply chains, which she calls “friendshoring — which bolsters our nation’s economic security and brings benefits to other economies,” she said in a statement on Tuesday ahead of the World Bank and IMF’s spring meetings.
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