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Reuters People drive outside the Lincoln Tunnel at the start of the Memorial Day weekend, under rising gas prices and record inflation, in Newport, N.J., on May 27.
Reuters
12:09 JST, June 25, 2022
WASHINGTON (Reuters) – The International Monetary Fund on Friday slashed its U.S. economic growth forecast as aggressive Federal Reserve interest rate hikes cool demand but predicted that the United States would “narrowly” avoid a recession.
In an annual assessment of U.S. economic policies, the IMF said it now expects U.S. Gross Domestic Product to grow 2.9% in 2022, less than its most recent forecast of 3.7% in April.
For 2023, the IMF cut its U.S. growth forecast to 1.7% from 2.3% and it now expects growth to trough at 0.8% in 2024.
