David Zervos said in an interview on Bloomberg TV on Thursday, January 14, 2016 in New York.
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David Zervos, the newly appointed adviser to the Treasury secretary, said Thursday that the International Monetary Fund should check its own forecasting record before criticizing U.S. fiscal policy.
“When you look at articles about the IMF, it’s good to be reminded of how messed up their forecasts have been in the past,” Zervos said in emailed comments to CNBC.
The former Wall Street economist was responding to IMF Managing Director Kristalina Georgieva’s warning at the IMF/World Bank annual meeting in Bangkok on Wednesday that strong economic growth in the United States alone would not be enough to put the rising federal debt on a sustainable trajectory.
Georgieva herself was responding to Treasury Secretary Scott Bessent, who told CNBC in August that the U.S. could “break out” of rising debt-to-GDP ratios after the government’s debt exceeded $40 trillion.
