Georgieva, President of the International Monetary Fund (IMF), said that the path for the U.S. economy to avoid recession is narrowing, and the U.S. economy faces serious downside risks this year and next.
The IMF lowered its forecast for U.S. economic growth this year to 2.9% from 3.7% in April, and to 1.7% in 2023 from 2.3%
The IMF believes that the path to avoiding a recession in the U.S. economy is narrowing, and the uncertainty of the current situation must be recognized.
Tighter monetary policy in the United States and slower growth would have broad implications. The IMF is particularly concerned regarding the impact of tightening financial conditions in the United States and the appreciation of the dollar on emerging market and developing economies.
The IMF also recommended that the U.S. government remove tariffs it has imposed on trading partners over the past five years, especially amid high inflation and strained supply chains.
(according to Xinhua News Agency)
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