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Christine Lagarde. Photo: Carlos Tischler/NurPhoto via Getty Images

President Trump's unpredictability is "hurting" trade and his dispute with China is "going to give a big haircut" to the world economy, incoming European Central Bank president Christine Lagarde told CBS News' "60 Minutes" Sunday.

"The biggest key that President Trump has is in relation to predictability and, and certainty of the terms of trade. It's the unknown which is hurting, because you can't adjust to the unknown. So what do you do? You build buffers. You build savings. You wonder what comes next. That's not propitious to economic development. ... The United States is at risk of losing leadership."
— Lagarde to CBS News' "60 Minutes"

The big picture: The IMF, which Lagarde led until September, said last week it expects the world economy to grow 3% this year — the weakest pace since the 2008 global financial crisis. The IMF pointed to the U.S.-China trade war as being the biggest factor. It forecast the dispute would cost 0.8% in global GDP losses this year.

A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.

Go deeper: The ideal ECB president

Go deeper

GOP to vote on ousting Liz Cheney this Wednesday

Photo: Tom Williams/Pool via Getty Images

House Republicans will vote on recalling Rep. Liz Cheney (R-Wyo.) as conference chair this Wednesday, House Minority Leader Kevin McCarthy announced in a letter Monday, Punchbowl News reported.

Why it matters: Cheney, the No. 3 House Republican, has faced increasing backlash from McCarthy and her Republican colleagues as she continues to criticize former President Trump and his baseless claims of election fraud.

3 hours ago - Health

Treasury begins disbursing $350 billion in COVID relief funding to states and localities

Treasury Secretary Janet Yellen. Photo: Tasos Katopodis/UPI/Bloomberg via Getty Images

The U.S. Treasury on Monday began giving state and local governments access to $350 billion in emergency funding from the American Rescue Plan, the department announced Monday.

Why it matters: Though the money is aimed at helping state, local, territorial and tribal governments recover from the pandemic's economic fallout, the administration will generally give them wide latitude on how they can use the funds.

Game developers break silence around salaries

Illustration: Annelise Capossela/Axios

Developers are sharing their salaries on Twitter under the hashtag #GameDevPaidMe to encourage pay transparency in their industry.

The big picture: The hashtag started circulating last year, but has returned periodically as developers fight for better working conditions. Salary sharing is a way to equalize the field. By removing the secrecy, as well as the stigma, around discussing pay, workers have more power to advocate for themselves when negotiating salaries and raises.