IMF chief warns Trump's tax cuts could destabilise global economy

Christine Lagarde singled out Trump’s tax reforms as one of three risks that could destabilise the current economic recovery, especially given the boom in stock markets in the past year.

“While the US tax reforms certainly will have positive effects in the short term, for the US and other countries around, it might also lead to serious risks,” Lagarde told the World Economic Forum in Davos.

“That has an impact on financial vulnerability, particularly given the high asset prices that we see around the world, and the easy financing that it still available,” she added.

She was speaking shortly after the US president told Davos that his tax reforms had created “a big, beautiful waterfall” of pay rises for US workers, as American companies passed the tax cut on.

https://www.theguardian.com/business/2018/jan/26/imf-chief-warns-trumps-tax-cuts-could-destabilise-global-economy?CMP=Share_iOSApp_Other

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America’s elites response....so what.