"The trends are a little bit on the downside and what is most concerning is that we see risks likely to high on the horizon and bigger. And those risks are the Chinese slowdown in growth, the low commodity prices for longer and the financial tightening we are seeing as a result of monetary policies across the globe producing this effect both on exchange rates and on monetary policies," Lagarde told the FOX Business Network's Maria Bartiromo about the state of the global economy.

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Lagarde weighed in specifically on the state of the US economy.

"We believe that having 50 million Americans living in poverty, 40% of whom actually have a job is not particularly satisfactory. And with growth being, not low, but not particularly high in the US You know north of 2% is okay but it is not great," said Lagarde.

Lagarde then discussed how raising the minimum wage could potentially boost US economic growth.

And with the job market where it is we believe that it's time to actually look at those minimum wage issues with a view to increasing growth, with a view to producing a demand effect in the short term and hopefully supporting the economy," Lagarde said.