The
U.S. Federal Reserve should hold off on raising interest rates until
the global economy is more stable, the World Bank's chief economist said
in an interview with the Financial Times published on Tuesday.
“I
don’t think the Fed lift-off itself is going to create a major crisis
but it will cause some immediate turbulence,” Kaushik Basu was quoted as
saying.
“The
world economy is looking so troubled that if the U.S. goes in for a
very quick move in the middle of this I feel it is going to affect
countries quite badly,” he said.
Source: Reuters
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