Middle classes in crisis, IMF's Christine Lagarde tells Davos 2017
by Larry Elliott in Davos from on (#29AE3)
IMF head wins support from outgoing US vice-president Joe Biden as she uses American term for working people in demanding action over rising inequality
The head of the International Monetary Fund, Christine Lagarde, has called for urgent action to tackle a "middle-class crisis" hitting working people as she warned that inequality, distrust and a lack of hope were fuelling growing populism.
Speaking at the World Economic Forum in Davos, Lagarde said she had first highlighted the dangers of rising inequality four years ago but had been ignored. "I hope people will listen now," she said.
Related: Davos 2017: Joe Biden calls on richest 1% to pull their weight, and criticises Russia - live updates
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