June 17, 2014

HOPEY-CHANGEY: International Monetary Fund cuts U.S. growth forecast.

The International Monetary Fund sees a more painful short-term future for the U.S. economy than the U.S. government does.

The IMF on Monday projected U.S. growth clocking in at just under 2 percent this year, a significant downgrade from the IMF’s projection of 2.7 percent growth last year.

The prediction, part of the IMF’s regular consultation with the U.S., also is well below the Federal Reserve’s most recent forecast in March of 2.8 percent-3 percent, although the central bank is expected to lower its expectations following its monetary policy meeting this week.

Some recovery.