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The Fed: Fed should tip-toe on rates due to weak economy, former IMF chief economist Blanchard says

Bloomberg

Olivier Blanchard, the former chief economist of the International Monetary Fund (IMF), and now senior fellow at the Peterson Institute for International Economics.

The U.S. economy is not out of the woods and the Federal Reserve should be sparing in their interest-rate hikes to guard against a downturn, said former International Monetary Fund Chief Economist Olivier Blanchard, in an interview with MarketWatch. Allowing the economy to run hot has more benefits than costs, he said.

Blanchard, 67, described recently by the Washington Post as “the smartest economist you’ve never heard of,” said he’s less optimistic about the U.S. economy, as consumers and businesses confront diminished expectations about the future.

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