US gross domestic product GDP is expected to grow 2.9% in 2022, down from its recent forecast of 3.7% in Aprilsaid IMF Managing Director Kristalina Georgieva at an annual review of US economic policies over the weekend.
Additional comments
The US economy will grow 1.7% in 2023 and 0.8% in 2024. After contracting -3.4% in 2020, the US economy grew by 5.7% in 2021.
“Based on the median projection of the monetary policy rate published at the June meeting of the FOMC (Federal Open Market Committee), we expect the US economy to slow in 2022-23, but narrowly avoid a recession.”
“The expected slowdown in US demand, combined with the necessary tightening of financial conditions worldwide, has an important potential to negatively affect individuals, companies and countries that are leveraged in US dollars and/or facing significant short-term financing needs.”
“To bring inflation decisively back to the Fed’s 2% target by late 2023 or early 2024, it will be necessary to raise the policy rate above the neutral level, in ex ante real terms, and hold it for some time. Given the extent of the current inflation problem.”
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
