Lagarde Calls for Bold Global Action to Avoid ‘New Mediocre’

The global economy needs bold policies to avoid a “new mediocre” period of sluggish growth as the world struggles with a disappointing recovery six years after the financial crisis, the head of the International Monetary Fund said.

“We see continued weakness in the global economy,” IMF Managing Director Christine Lagarde said in a speech today at Georgetown University in Washington. “Countries are still dealing with the legacies of the crisis, including high debt burdens and unemployment.”