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IMF Trims U.S. Growth Forecast
The International Monetary Fund, which predicted in April that the American economy would expand 2.8% this year, now expects growth of only 2%.
The IMF notes that an unusually harsh winter weakened first-quarter results.
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The International Monetary Fund, which predicted in April that the American economy would expand 2.8% this year, now expects growth of only 2%.
The IMF notes that an unusually harsh winter weakened first-quarter results. The lender forecasts 3% growth in 2015.
The U.S. Dept. of Labor reported that last month the number of non-farm jobs in America finally returned to the pre-recession peak it reached in January 2008. But the IMF cautions that the labor market is weaker than the statistic suggests because wage rates are flat and long-term unemployment remains high.
The IMF does not expect the U.S. economy to return to full employment until the end of 2017. It also predicts the Federal Reserve will continue to keep interest rates low beyond the middle of next year.
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