IMF's Lagarde backs Fed over asset purchases

Christine Lagarde

International Monetary Fund (IMF) chief Christine Lagarde yesterday backed the Federal Reserve's decision to maintain the existing scope and pace of its asset purchases earlier this week and called for a "gradual" restoration of normal monetary policy conditions.

Speaking before the US Chamber of Commerce, Lagarde suggested the IMF and the Fed were very much on the same wavelength, but took a more critical stance of the US government's inability to resolve its long-term budget and debt ceiling t

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