World economy should avoid recession despite tariffs, IMF chief says

The stop-start US tariff plans have fueled levels of market volatility unseen since the Covid-19 pandemic, and most economists expect the imposition of new import levies will stifle growth and push up inflation, at least in the short term. Trade disruptions "incur costs," IMF Managing Director Kristalina Georgieva told reporters in Washington on Thursday according to prepared remarks, adding that the Fund now expects "notable" markdowns to growth but no recession. "This is a reminder that we live...