IMF Cuts Growth Forecast for US

0
1048
Photographers follow International Monetary Fund (IMF) Managing Director Christine Lagarde as she arrives to discuss the IMF's annual review of the U.S. economy in Washington, June 16, 2014.
Photographers follow International Monetary Fund (IMF) Managing Director Christine Lagarde as she arrives to discuss the IMF's annual review of the U.S. economy in Washington, June 16, 2014.
Photographers follow International Monetary Fund (IMF) Managing Director Christine Lagarde as she arrives to discuss the IMF’s annual review of the U.S. economy in Washington, June 16, 2014.

The International Monetary Fund says the U.S. economy will grow 2 percent this year.

That is slightly faster than last year, but below its earlier prediction of 2.7 percent from the IMF, Reuters reported.

Economists said unusually harsh winter weather crimped business activity and made the world’s biggest economy shrink a bit in the first three months of this year.

Most experts said the economy has resumed growth and will get stronger in the next few months.

IMF experts said U.S. officials should continue efforts to stimulate the economy with low interest rates, a higher minimum wage, and more government spending on infrastructure.

Top officials of the U.S. central bank will meet in Washington on Tuesday where they will make their own assessment of the economy, and debate interest rate policy and efforts to bolster growth.

U.S. Federal Reserve Chair Janet Yellen will hold a news conference Wednesday to explain the Fed’s latest decisions.

Advertisements

Comments

comments