WASHINGTON, June 25 (BNA) The International Monetary Fund (IMF) on Friday cut its forecast for economic growth in the United States, as the Federal Reserve’s aggressive hike in interest rates dented demand, but expected the United States to avoid a recession “by a small margin.”
The International Monetary Fund, in an annual assessment of US economic policies, said it now expects US gross domestic product to grow by 2.9% in 2022, less than its latest forecast of 3.7% in April.
For 2023, the IMF has lowered its growth forecast for the US to 1.7% from 2.3% and now expects growth to fall to 0.8% in 2024.
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