Who’s afraid of Donald Trump? Not the International Monetary Fund, at least not anymore.
Like many world leaders, Christine Lagarde, the IMF’s managing director, approached the new U.S. president carefully at first. The fund gave the Trump administration an early boost by forecasting that his policies would be good for economic growth in the short term. Lagarde stood back as the U.S. forced the Group of 20 to water down its commitment to fight trade protectionism. She even invited Trump’s treasury secretary, Steve Mnuchin, to join her on stage in Washington for a public talk when the IMF’s members last assembled in April.
But late last month, the IMF turned on Trump.
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