Janet Yellen upbeat about global economy despite IMF’s gloomy outlook

US Treasury Secretary Janet Yellen on Thursday delivered a more optimistic economic outlook than an International Monetary Fund report that had forecast a “complicated” road to recovery.

Ms Yellen, who has sought to reassure the world of the strength of the US economy, made only passing remarks on the recent banking crisis before pivoting to a positive outlook on the global economy.

“Here at home, the US banking system remains sound with strong capital and liquidity positions,” she told reporters during a briefing at the IMF and World Bank annual meeting in Washington.

“The global financial system also remains resilient thanks to significant reforms after the financial crisis.”

Ms Yellen recalled remarks she had made in February, when she stated the global economy was in a stronger place than expected.

“That basic picture has remained largely unchanged,” she said.

Her remarks indicated a more…

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