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Thndr Claps » U.S. Claps » Economy 🏢 » IMF cuts down U.S. growth forecasts📊

IMF cuts down U.S. growth forecasts📊

by Shams Abbas
June 27, 2022

The Clap
The International Monetary Fund (IMF) has cut down growth forecasts for the U.S. economy.

The Deets
The IMF expects the U.S. economy to grow at 2.9% in 2022, down from its previous 3.7% projection. It also cut down 2023 growth forecasts, from 2.3% to 1.7%.
The IMF attributed its revised forecasts to soaring inflation (& therefore interest rates), supply chain disruptions, & the rise in food & energy prices due to Russia’s war in Ukraine.

Why this matters
Despite the cuts in U.S. growth forecasts, the IMF sees the U.S. avoiding a recession if there are no more negative hits to the economy. It also said that if a recession does happen, it’s likely to be short & relatively unpainful.

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