Bank of England boss urges US support for IMF and World Bank
Published On Feb 6, 2025, 7:00 PM
The Governor of the Bank of England, Andrew Bailey, emphasized the importance of continued US support for the International Monetary Fund (IMF) and the World Bank. He expressed concerns regarding the potential disengagement of the US from these institutions, which could lead to fragmentation in the global economy. There are fears that the Trump administration may attempt to withdraw from these organizations, based on a recent executive order reviewing international memberships. Bailey highlighted that multilateral institutions are vital for the stability and operation of the global economy, especially in times of financial distress.
Stock Forecasts
SPY
Positive
The US's potential withdrawal from the IMF and World Bank could lead to increased market volatility and uncertainty in the global economy, affecting investor confidence and economic growth projections. If the US maintains its commitment to these institutions, global markets could stabilize, leading to a more positive economic outlook.
Related News
January jobs report expected to show hiring slowed, unemployment rate held steady to start 2025
Feb 6, 2025, 2:22 PM
The January jobs report is expected to show the labor market gradually cooled to start 2025.
US workers staying put as fewer quit their jobs
Feb 6, 2025, 3:25 PM
Fewer Americans left their jobs last year than in 2023, according to U.S. Labor Department data, signaling the Great Resignation has finally come to an end.
How the U.S. has used tariffs throughout history — and why Trump is different, economists say
Feb 6, 2025, 9:13 AM
President Donald Trump's use of tariffs in his second term defies many historical norms, say economists and historians.