World Business News

A round up of the latest news for those doing business internationally

IMF cuts US growth forecast for 2014

Zone(s): USA ¦ Sector(s): Economy
[16 June 2014, BBC News] The International Monetary Fund (IMF) has slashed its US growth forecast, urged policy makers to keep interest rates low and raise the minimum wage to strengthen its recovery.

The crisis lender said it expects 2% growth this year, down from its April forecast of 2.8%, after a “harsh winter” led to a weak first quarter. However it expects 3% growth in 2015. It also said the US should increase its minimum wage to help address its 15% poverty rate.

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