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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.

Go deeper: The ideal ECB president

Go deeper

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Everyone's bullish

Illustration: Sarah Grillo/Axios

Following positive vaccine news and the run-up in global equities punctuated last week by the Dow hitting 30,000 points, investors are again throwing caution to the wind and growing more uniform in their bets that stocks will continue to rise.

Between the lines: The resurgence of traders' risk appetite has some urging caution, as unanimity in either excitement or fear historically has proven to be a contrarian signal for the stock market.

Salesforce rolls the dice on Slack

Illustration: Sarah Grillo/Axios

Salesforce's likely acquisition of workplace messaging service Slack — not yet a done deal but widely anticipated to be announced Tuesday afternoon — represents a big gamble for everyone involved.

For Slack, challenged by competition from Microsoft, the bet is that a deeper-pocketed owner like Salesforce, with wide experience selling into large companies, will help the bottom line.

FBI stats show border cities are among the safest

Data: FBI, Kansas Bureau of Investigation; Note: This table includes the eight largest communities on the U.S.-Mexico border and eight other U.S. cities similar in population size and demographics; Chart: Naema Ahmed/Axios

U.S. communities along the Mexico border are among the safest in America, with some border cities holding crime rates well below the national average, FBI statistics show.

Why it matters: The latest crime data collected by the FBI from 2019 contradicts the narrative by President Trump and others that the U.S.-Mexico border is a "lawless" region suffering from violence and mayhem.