Economic policymakers from around the globe traveled to Washington this week for the annual spring convening of the International Monetary Fund (IMF) and the World Bank. The backdrop to the meeting was stark: The IMF warned of an “anemic outlook” for the global economy amid rising interest rates, stubborn inflation, and Russia’s war in Ukraine. It projects global growth could slow to just 2.8 percent this year.
FP’s Ravi Agrawal sat down with the renowned economist Larry Summers, a former president of Harvard University. Summers has held top jobs at the World Bank, the National Economic Council, and was U.S. treasury secretary from 1999 to 2001 under President Bill Clinton. The two discussed the global economic outlook, but also spent time examining the state of Russia’s economy, the dollar’s strength, accusations of U.S. protectionism, and the economic impacts of U.S.-China competition. Watch the full interview, or read a condensed and edited transcript.
