The managing director of the International Monetary Fund said today that recent fears of a double-dip recession are unfounded, CNBC reported.

In addition, stimulus spending helped contain the financial crisis, Dominique Strauss-Kahn said in an interview this morning with CNBC.

The United States has taken the correct approach in dealing with the economic slowdown and making sure the recovery is sustainable, Strauss-Kahn said.

“We don’t believe that the double dip will take place,” he said.

Fears of a double dip have increased recently, with some analysts saying austerity in Europe could sink the world into a second recession.

“The fact that the stimulus was absolutely useful is not challenged by anyone now,” Strauss-Kahn said. “I think what the U.S. is doing today is the right thing. I think as long as they will support (the recovery), finally it will pick up and create jobs.”

But the effect of the U.S. policy will not be immediate, he said.

“We need to wait for one or two quarters to be sure,” according to Strauss-Kahn.

Some officials and analysts said that financial markets’ lack of supervision and risky bets have caused the crisis.

“Blaming the markets doesn’t make a lot of sense,” Strauss-Kahn said.

Regulators need to put in place better rules and supervision to make sure markets are effective, he added.