A new Washington consensus is far from agreed, Olivier Blanchard, the chief economist of the International Monetary Fund, has said.
In an article for VoxEU.org, an economics blog, Blanchard said: "In terms of research, the future is exciting. Things are harder on the policy front. Given we don't quite know how to use the new tools and they can be misused, how should policymakers proceed? While we have a good sense of where we want to get to, a step-by-step approach is probably the way to go."