IMF Cuts US Growth Forecast to 2% for 2014 But Maintains 3% Growth Outlook

IMF Cuts US Growth Forecast to 2% for 2014 But Maintains 3% Growth Outlook
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IMF Cuts US Growth Forecast to 2% for 2014 But Maintains 3% Growth Outlook for Next Year

In its annual review of the U.S. economy, the IMF cut its forecast for U.S. economic growth this year by 0.8 percentage point to 2%, citing a harsh winter, a struggling housing market and weak international demand for the country’s products. The fund maintained its 3% growth outlook for next year, saying a meaningful economic rebound is under way. Still, the IMF said significant slack remains in the economy and U.S. officials must do more to stimulate growth in the near term. The remarks came ahead of a Fed policy meeting this week in which officials will consider whether to change or clarify guidance on future rate decisions.

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