Economic Buzz: IMF Further Cuts US 2022 Growth Forecast To 2.3%

13 Jul 2022 , 09:37 AM

The International Monetary Fund warned that avoiding recession in the United States will be increasingly challenging as it again cut its 2022 U.S. growth forecast to 2.3% from 2.9% in late June as recent data showed weakening consumer spending. The Fund also cut its 2023 real GDP growth forecast to 1.0% from 1.7%. The Fund said Fed monetary policy tightening should help bring down inflation to 1.9% by the fourth quarter of 2023, compared with a forecast of 6.6% for the fourth quarter of 2022. Powered by Commodity Insights