This archive report was first published on 19 October 2019.
Christine Lagarde, the incoming European Central Bank president, has expressed concerns about the impact of President Donald Trump's trade policies on the global economy. In an interview with 60 Minutes, Lagarde warned that Trump's trade war with China could give the global economy 'a big haircut.'
Published on October 19, 2019, Lagarde emphasized the need for world leaders to act like grownups and negotiate a solution to the trade conflicts. She called for 'rational decisions' and urged policymakers to put everything on the table and deal with the issues bit by bit.
Lagarde also took a swipe at Trump's Twitter habits, saying that market stability should not be the subject of a tweet here and there. She emphasized the need for consideration, thinking, quiet, and measured decisions.
As she takes on her new role as central banker, Lagarde also criticized Trump's barrage of criticism against his own Federal Reserve Chairman Jerome Powell. She said, 'A central bank governor does best his job if he is independent.'
