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A new International Monetary Fund report finds that high levels of household debt can deepen recessions. US households are more indebted than ever.
The IMF has estimated inflation could rise to 2,300% by the end of 2018 and said the crisis has "no end in sight."
The IMF says the super-wealthy aren’t paying their fair share of taxes — and there could be terrible consequences
Go ahead, tax the rich, they can afford it. That's the message from a new International Monetary Fund report that also finds inequality hampers long-run economic growth.
The International Monetary Fund's latest forecast on the US economy is slightly weaker because it is no longer assuming Donald Trump will manage to cut taxes.
But she sees the potential.
In many countries, the richest 1% have benefited disproportionately from economic growth in recent years, the IMF says.
Remember when China’s economic crash was imminent and ready to take down the rest of the world with it?
"Everyone knows there’s a credit problem in China, but I find that people often forget about the scale," Charlene Chu told the Financial Times.
Citing other countries which have fuelled growth via taking on debt aggressively, the fund warned that the current trajectory of China's debt is 'dangerous.'
ANALYSIS: A decline in union participation helps explain stagnant wages for US workers.