Treasury Secretary Criticizes IMF and World Bank's Economic Forecasts

U.S. Treasury Secretary Scott Bessent expressed skepticism about revised global growth forecasts and inflation projections by the International Monetary Fund (IMF) and the World Bank, attributing their changes to conflicts in the Middle East.

Bessent suggested that these organizations might have overreacted in their forecasts. However, he remained positive about the U.S. and its ability to manage price fluctuations without resorting to sustained measures like subsidies, unlike some European and Asian countries.

Despite his disagreements on their forecast, Bessent appreciated the World Bank's recent policy shift on nuclear power projects and noted the IMF's efforts to collaborate with the U.S. on initiatives like Argentina and Venezuela's financial integration. He called for the IMF to refocus on core macroeconomic missions and reiterated his suggestion for them to sell an unused property in Maryland.