U.S. taps Adam Lerrick as acting executive director at IMF: FT

(Reuters) — U.S. Treasury official Adam Lerrick has been tapped by the Trump administration to serve as the country’s acting executive director at the International Monetary Fund, the Financial Times reported on Friday, citing a source.

Lerrick, who is a counselor for international affairs, will be temporarily appointed U.S. executive director at the IMF while the administration awaits the Senate confirmation of investment banker Mark Rosen to the role, the report said. on.ft.com/2NyypYv


Lerrick would replace Mauricio Claver-Carone, the previous acting U.S. executive director at IMF , according to the report.

Lerrick, a proponent of reforms at the IMF and World Bank, was one of the authors of a 1990s report led by the late economist Allan Meltzer that called for the IMF to focus on short-term responses to crisis rather than multi-year bailout, the newspaper said.

U.S. Treasury Department and IMF were not immediately available for comment.


Mayflower Advisors’ Larry Glazer: Don’t expect FANG stocks to keep carrying the rally

Veteran fund manager Larry Glazer is worried too many investors are in the wrong trade. His concerns stem from the crucial role big technology stocks are ...


These iOS 12 features may improve your life

If you don’t have enough cash to buy a new iPhone with X in its name, you can freshen up your existing device with Apple’s ...


H&M needs to get rid of a lot of clothes

H&M has a stockpile of unsold clothes worth $4 billion. The Swedish fashion company will offer sales online and in stores to reduce the stockpile. ...


Corporate America, not banks, could cause the next recession

1. The next debt crisis: There’s a $6.3 trillion elephant in the room. And it just might cause the next recession. The last downturn was triggered by  Подробнее

Meet the first civilian who will orbit the moon



These countries are most vulnerable to the emerging market storm

1. Trouble in paradise: For the past decade, a river of easy money rushed into emerging markets. Now that powerful force is reversing. Rising interest rates, along with ...


Lehman Brothers: When the financial crisis spun out of contro

Legendary investment bank Lehman Brothers was on fire — and no one was coming to put it out. Bank of America refused to rescue the 158-year-old ...


Corporate America is spending more on buybacks than anything else

For the first time in a decade, Corporate America is steering more money into stock buybacks than investing in the future. S&P 500 companies rewarded shareholders ...


Countries with higher wages than U.S.



Wall Street’s crypto guru says pot stocks feel like bitcoin last year — so he’s shorting them

«The prices of cannabis stocks today feel like bitcoin and ethereum did in December of last year,» says Novogratz. Bitcoin was marked by double-digit gains on ...