IMF's Gita Gopinath: soft landing for global economy more likely

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"Now we are in a world where we have far more supply shocks, that are much more severe, and we've seen that inflation can come back pretty strongly," said Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF).

While recent inflation drops have sparked talk of early rate cuts, the IMF's Gita Gopinath warns that the fight isn't over. Tight labor markets still warrant continued rate hikes, likely in the second half of 2024.

Gopinath predicts a shift from the post-2008 period of low rates, driven by increased supply shocks and a need for caution against inflation surges. Expect higher average rates, impacting global borrowing costs.

Watch to hear more from Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF), on the future of the global economy.