Tuesday, April 24, 2018
Business

IMF head says weak nations still need central bank help

JACKSON HOLE, Wyo. — The head of the International Monetary Fund cautioned the world's major central banks Friday not to withdraw their unconventional support for weak economies too soon.

IMF Managing Director Christine Lagarde, speaking at an annual economics conference in Jackson Hole, Wyo., said stimulative policies are still needed in key regions, especially Europe and Japan, which have struggled with prolonged weakness.

Lagarde said central banks must carefully develop strategies for scaling back their efforts to keep borrowing rates low. Any pullback should be determined by the strength of individual economies, she said.

Her comments come as the Fed is signaling that it could slow its bond purchases later this year if the U.S. economy continues to improve. The Fed's bond buying has helped keep U.S. interest rates near record lows.

"Unconventional monetary policy is still needed in all places it is being used, albeit longer for some than for others," Lagarde said.

The anticipation of a slowdown in Fed bond buying has unsettled U.S. stock and bond markets and sent interest rates up, triggering turmoil in some emerging economies, such as Turkey, India and Indonesia. Officials in those countries have tried to halt declines in the value of their currencies as investors have shifted money into higher-yielding investments elsewhere.

Lagarde said finance officials should prepare contingency plans in case market turbulence worsens.

She said the IMF will provide support where possible, including emergency loans to countries that need them.

Comments
Career Q&A: Disillusioned with grind of telecommute

Career Q&A: Disillusioned with grind of telecommute

Q: I have become very disillusioned with my telecommuting job. I accepted this position about a year ago because I liked the idea of working from home. However, I now have so many assignments that I can barely keep up. I was recently given a huge pro...
Updated: 1 hour ago
Pinellas County commits $41.7 million to Blue Jays Stadium

Pinellas County commits $41.7 million to Blue Jays Stadium

DUNEDIN — The Pinellas County Commission pulled the final trigger Tuesday on dedicating $41.7 million in bed taxes for upgrades to the Toronto Blue Jays’ stadium and spring training facilities, a pledge that amounts to covering more than half of the ...
Updated: 3 hours ago
Florida’s small businesses need more skilled workers, survey says

Florida’s small businesses need more skilled workers, survey says

Florida small business owners say their top concern is a lack of skilled workers, according to a recent survey by the Florida Chamber of Commerce. Workforce quality has been a recurring issue for small businesses, according to previous surveys. In th...
Updated: 4 hours ago
Marriott CEO: Our three-hotel bet at Water Street Tampa reflects how Tampa is evolving

Marriott CEO: Our three-hotel bet at Water Street Tampa reflects how Tampa is evolving

TAMPA — The world’s biggest hotel company already has 29 properties in the Tampa Bay area, but its CEO says a plan to put more than 1,400 rooms in three Marriott-branded hotels within a few blocks of each other says something about how Tampa is evolv...
Updated: 5 hours ago
Study ranks Florida No. 8 for most aggressive drivers

Study ranks Florida No. 8 for most aggressive drivers

If you’ve ever complained about other motorists on the road, you may have been justified. The Sunshine State ranked No. 8 on GasBuddy.com’s list of states with the most aggressive drivers."Our findings indicate that states with densely populated citi...
Updated: 5 hours ago
First curbside delivery, now Amazon leaves packages with no one in the car

First curbside delivery, now Amazon leaves packages with no one in the car

Amazon is taking the growing curb-side delivery trend a step further — now shoppers don’t even have to be inside their cars to get their items.The online retailer announced Tuesday it has begun delivering packages to newer cars with OnStar service in...
Updated: 5 hours ago
Ex-Yahoo paying $35M to settle SEC charges over 2014 hack

Ex-Yahoo paying $35M to settle SEC charges over 2014 hack

WASHINGTON — The company formerly known as Yahoo is paying a $35 million fine to resolve federal regulators’ charges that the online pioneer deceived investors by failing to disclose one of the biggest data breaches in internet history. The Securiti...
Updated: 7 hours ago
The ‘most interesting man in the world’ will be tending bar in Tampa on Friday

The ‘most interesting man in the world’ will be tending bar in Tampa on Friday

"Stay thirsty, my friends," the most interesting man in the world is coming to Tampa to tend bar on Friday. Jonathan Goldsmith, the face that launched a thousand memes, will be slinging cocktails at Tampa’s trendy Hall on Franklin, the food hall anno...
Updated: 9 hours ago
So far, Pasco’s tourism base: Floridians, Canadians

So far, Pasco’s tourism base: Floridians, Canadians

NEW PORT RICHEY – The typical tourist in Pasco County this year most likely is a Floridian.But there are lots of Canadians here as well. Nearly 80 percent drove, rather than flew, to the region. Forty percent stayed in hotels, but more than a quarter...
Updated: 10 hours ago
Girls hockey could replace boys lacrosse on Pasco tourism calendar

Girls hockey could replace boys lacrosse on Pasco tourism calendar

NEW PORT RICHEY – Hockey pucks could replace lacrosse balls as the required sports equipment for the holiday tourism season in Wesley Chapel.The Wickenheiser World Female Hockey Festival, founded by Canadian hockey player Hayley Wickenheiser, is seek...
Updated: 10 hours ago