Traders work on the floor of the New York Stock Exchange a day after Hurricane Irene swept through the area on August 29, 2011 in New York City (Spencer Platt / Getty Images / AFP)
If fear from the Fed that the economy was crumbling wasn't enough to raise a scare on Wall Street last week, now the IMF is also saying that the outlook on America isn't what it should be.
International Monetary Fund Chief Christine Largade said on Sunday that the United States needs a "credible" plan to keep the economy in check. Lagarde's comment, delivered at a conference in Jackson Hole, Wyoming, came only two days after Federal Reserve Chairman Ben Bernanke revealed that the road to economic recovery was "much less robust" than the Federal Reserve has hoped for.
Speaking in Wyoming, Lagarde said that lawmakers need to push for economic growth, but a failure to act accordingly to debt dilemmas in the future would cause the country to lose credibility. "Who will believe that commitments to cut spending can survive a lengthy stagnation with prolonged unemployment and social dissatisfaction?" asked Lagarde.
The unemployment rate in the United States has been at or above 9.0 percent since April of this year.