The International Monetary Fund (IMF) slightly raised its forecast for 2023 US economic growth Friday while noting that a slowing economy will likely lead to a small increase in unemployment in 2024.
"The US economy has proven resilient," IMF managing director Kristalina Georgieva said in a press conference, shortly after the updated figures were released.
Real GDP growth in the United States is expected to rise by 1.7 percent this year, up from 1.6 percent forecast earlier this year, before slowing to 1.0 percent in 2024, the IMF said in a statement. "They have been certainly a boost to American families, but they have also contributed to more persistent inflation than had been anticipated," she said.As a result, Georgieva said, the Fed's job of raising interest rates "is not quite yet done."
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