Federal Government Policy and Business

I.M.F. Breakthrough Is Seen to Bolster U.S. on World Stage

The New York Times: WASHINGTON — A string of agreements between the White House and Congress, capped by last month’s surprise accord that ended a five-year impasse over the International Monetary Fund, has eased, though not dispelled, concern that America is retreating from global economic leadership.

From early 2015, allies had much to fret about, and they did: China was on the rise and the United States was on the sidelines as countries joined Beijing’s new international development bank. Political dysfunction at home threatened President Obama’s power to negotiate trade agreements, including a landmark trans-Pacific accord. The Republican-controlled Congress had closed the nation’s 81-year-old Export-Import Bank and was threatening government shutdowns.

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