Chinese President Xi Jinping took to the virtual Davos stage to address Fed Chairman Jerome Powell with this message: Please don’t lift interest rates.
“If major economies slam on the brakes or take a U-turn in their monetary policies, there would be serious negative spillovers. They would present challenges to global economic and financial stability, and developing countries would bear the brunt of it,” said Xi, according to a transcript of his remarks on Monday.
Well done President Xi for cutting interest rates and help stimulate a China's economy ! The fed needs to listen and not raise rates too fast or else it would cause a world economy slow down according to President Xi.
