IMF chief economist Olivier Blanchard has been engaging in some green-shoot whacking of late, not least with his views on what is really needed to propel a US recovery.
In one word: exports.
Bank of New York Mellon flag up this particular quote on Tuesday:
US: IMF’s chief economist Olivier Blanchard says: “For the US, it is absolutely no question that a sustained recovery has to come from a large increase in exports. That may not be very easy to do. This may require fairly substantial adjustments in the USD.”
And we can see why:
Related links:
US trade gap grows as global demand slump hits exports – FT
What is needed for a lasting recovery – FT