IMF Drops Chief Economist Candidate Over Trump Tariff Comments
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IMF Drops Chief Economist Candidate Over Trump Tariff Comments
- The International Monetary Fund (IMF) reportedly withdrew its offer to Ricardo Reis for the chief economist position due to his past criticisms of the Trump administration's trade tariffs.
- Ricardo Reis, a professor at the London School of Economics, had previously warned that US tariffs would increase prices for American consumers and contribute to inflation.
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The International Monetary Fund (IMF) reportedly rescinded its offer to Ricardo Reis, a prominent economist and professor at the London School of Economics (LSE), for the role of chief economist. The decision, which occurred at the “eleventh hour,” was prompted by remarks Reis had made criticizing the Trump administration’s trade policies, according to sources familiar with the process.
Reis had publicly stated that tariffs imposed by the US president would lead to higher prices for American consumers and could trigger a new wave of inflation. These comments were made following the US president’s “liberation day” tariffs announcement in April of last year.
The IMF had been preparing to announce Reis’s appointment as head of research and economic counselor earlier this summer. However, the institution ultimately appointed Silvana Tenreyro, also an LSE economist and former Bank of England policymaker, to the position in July. Tenreyro began her role last month. While the IMF did not comment directly on the specific details of competing candidates, an IMF spokesperson stated that the selection process was “rigorous and competitive” and expressed satisfaction with Tenreyro’s appointment.