Former head of the International Monetary Fund Christine Lagarde, who was confirmed last week as the next president of the European Central Bank, said U.S. President Donald Trump is responsible for many of the risks facing the global economy, and warns that the rise of nationalism is not the answer to economic fears.
In an interview aired on CBS’s '60 Minutes,' Lagarde said Trump’s unpredictability has forced investors to stop taking risks and that the U.S.-China trade war is "going to give a big haircut to the global economy."
"Market stability should not be the subject of a tweet here or a tweet there. It requires consideration, thinking, quiet and measured and rational decisions," CBS News cited her as saying.
"If you shave off, you know, almost a percentage point of growth that means less investment, less jobs, more unemployment, reduced growth," Lagarde stressed.
