IMF says will raise US economic growth forecast, The International Monetary Fund predicts the US economy would expand at a faster pace next year, given positive economic data and some signs of compromise in Congress, the head of the Washington-based lender said on Sunday.
IMF Managing Director Christine Lagarde also praised the US Federal Reserve's communication of its decision last week to start scaling back its massive monetary stimulus.
Growth is picking up," Lagarde said on NBC's "Meet the Press." "And unemployment is going down. So all of that gives us a much stronger outlook for 2014, which brings us to raising our forecast."
The IMF forecast in October that the US economy would expand 2.6 percent in 2014 after growing 1.6 percent this year. At the time, Lagarde warned that Congressional failure to raise the US debt ceiling could damage not only the United States, but the rest of the global economy.
A US Congress, deeply divided along party lines, did manage to pass a limited, two-year budget deal last week to trim some planned spending cuts and reduce the risk of a government shutdown.
Yet the legislation does nothing to avoid a possible US debt default that could occur if Congress does not raise a cap on US borrowing.
President Barack Obama's administration has warned that the government could run out of borrowing authority needed to pay its bills as soon as February if ..
IMF Managing Director Christine Lagarde also praised the US Federal Reserve's communication of its decision last week to start scaling back its massive monetary stimulus.
Growth is picking up," Lagarde said on NBC's "Meet the Press." "And unemployment is going down. So all of that gives us a much stronger outlook for 2014, which brings us to raising our forecast."
The IMF forecast in October that the US economy would expand 2.6 percent in 2014 after growing 1.6 percent this year. At the time, Lagarde warned that Congressional failure to raise the US debt ceiling could damage not only the United States, but the rest of the global economy.
A US Congress, deeply divided along party lines, did manage to pass a limited, two-year budget deal last week to trim some planned spending cuts and reduce the risk of a government shutdown.
Yet the legislation does nothing to avoid a possible US debt default that could occur if Congress does not raise a cap on US borrowing.
President Barack Obama's administration has warned that the government could run out of borrowing authority needed to pay its bills as soon as February if ..
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