IMF lowers growth forecast for US economy to 2.3 percent

Washington The International Monetary Fund (IMF) is downgrading its growth forecast for the US economy. The IMF said on Tuesday it expects US gross domestic product to grow by just 2.3 percent this year, down from the 2.9 percent forecast made in June.

Recent downward revisions to first-quarter GDP growth and consumer spending weighed on forecasts, the IMF said. High inflation poses “systemic risks for both the United States and the global economy.” “The policy priority now must be to slow wage and price increases rapidly without triggering a recession.”

More: According to the prominent economist, a recession can hardly be avoided. El-Erian fears a lack of liquidity – with which the central banks can no longer help.