International Monetary Fund and John F Kennedy

economic growth: Back in the early 1960s, the then US president hailed economic growth as a rising tide that lifts all boats, according to The Guardian. That was no longer true, according to Lagarde. The managing director of the International Monetary Fund chose a nautical metaphor first used by John F Kennedy. In too many countries, economic growth has failed to lift these small boats, while the gorgeous yachts have been riding the waves and enjoying the wind in their sails, she said. This trend has been marked in the years since the Great Recession. In too many cases, poor and middle-class households have come to realize that hard work and determination alone may not be enough to keep them afloat. (news.financializer.com). As reported in the news.