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The International Monetary Fund spent decades telling the world's governments how to run their economies on an American-inspired blueprint that became known as the Washington Consensus. There wasn't much consensus between the Fund and the White House Wednesday as they got embroiled in an unusually public disagreement over President Donald Trump's tax plans.The study came out as Trump was hitting the road to promote the biggest overhaul of America's tax code in decades.The Fund has been rowing back from many of the policy prescriptions it used to hand out.The official said Trump's proposed cuts would leave the median American worker better off. The Treasury questioned the Fund's forecasting too, suggesting the prediction for U.S. growth should have factored in Trump's tax plans, and been higher as a result.The former Goldman Sachs executive called the chance to work on tax reform with Trump a "once-in-a-lifetime opportunity".The IMF's tilt toward redistribution may ease frictions with some governments – but not, evidently, with Trump's. And that's a potential problem for the Fund.
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