10/13/2021- 10:25 p.m.
IMF cuts global growth outlook as supply chain and inflation plague economies
The International Monetary Fund dropped its global growth forecast from 6% to 5.9% on Tuesday, as it warned central banks to be more alert to persistent inflation.
Although the overall drop was moderate, the concern was greater for some individual countries. US growth for 2021, for example, was slashed from 7 to 6%, while all G7 nations’ forecasts dropped.
Expectations for America could be hit even harder though, as the IMF forecast assumed Congress will approve President Biden’s $4tn infrastructure spending proposals.
