Lagarde: 'reason to be concerned' about global economy

The International Monetary Fund voiced concern Wednesday about the global economy, weakened by China's slowdown and facing a potential "vicious cycle" from a looming US interest rate hike. The prospect of rising interest rates in the United States and China's slowdown are contributing to uncertainty and higher market volatility," IMF Managing Director Christine Lagarde said in a speech in Washington, according to the prepared text. Lagarde also pointed to the "sharp deceleration" in the growth o