IMF cuts US growth forcast for 2014
Monday, 16 June 2014
The International Monetary Fund (IMF) on Monday slashed its forecast for the United States (US) and urged policymakers to keep interest rates low and raise the minimum wage to strengthen growth. The global crisis lender said in its annual report card on the US economy that the country will likely grow only 2.0 per cent this year, compared with the previous 2.8 per cent estimate, blaming mainly the unexpected contraction in the first quarter, according to a news agency.