The global economy is in a better place today than many had predicted just a few months ago, although there were still significant headwinds, U.S Treasury Secretary Janet Yellen said at a press conference in Bengaluru on Thursday.
“It’s fair to say that the global economy is in a better place today,” she said, adding that in the fall, many had been worried about a sharp economic slowdown across the world.
“The challenges we face are real, and the future is always uncertain. But the outlook has improved since we gathered in the fall,” she elaborated. In its most recent estimates, the IMF had raised its forecast for global growth in 2023 to 3.2%, a notable upgrade from October, she stated.
Ms. Yellen said the U.S. economy remained resilient with year-on-year headline inflation having moderated over the past few months as supply chain pressures had eased and global…