IMF lowers US growth forecasts for 2015
In the first quarter of this year, the US economy contracted 0.7% due to a widening trade deficit, smaller inventories and a stronger dollar. Heavy winter conditions reportedly also hampered consumer spending.
The IMF also stated that the central bank of the United States, the Federal Reserve Bank (FED), should wait until the first half of 2016 before raising interest rates as inflation is still too low and there are significant uncertainties surrounding future economic growth.
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