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IMF economist backs increase in U.S. minimum wage, sees argument for slow phase-in - Metro US

IMF economist backs increase in U.S. minimum wage, sees argument for slow phase-in

Gita Gopinath, Economic Counsellor and Director of the Research Department at the International Monetary Fund (IMF), speaks during a news conference in Santiago

WASHINGTON (Reuters) – The International Monetary Fund supports an increase in the U.S. federal minimum wage to reduce poverty and inequality, but sees an argument for phasing the higher rate in slowly to gauge the impact on employment, the IMF’s chief economist said on Tuesday.

The United States was still in an “emergency situation” with regard to the pandemic, and should accelerate vaccinations and testing, as well as targeted support to households and businesses, Gita Gopinath told Reuters in an interview.

(Reporting by Andrea Shalal; Editing by Chris Reese)

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