Nigel Chuck, deputy director of the International Monetary Fund’s Western Hemisphere Department, said that the depth of any recession will depend on the size of the shock that will push the US economy away from the path that the International Monetary Fund expected to avoid a recession hardly.
“There’s a lot of savings in the system that would help support demand,” Chuck told a news conference on the IMF’s review of US economic policies. It goes through relatively quickly and there will be a relatively quick recovery after that.”
While the IMF cut its forecast for US economic growth for 2022 by 0.8 percent to 2.9 percent, IMF Managing Director Kristalina Georgieva said, “Success over time (in lowering prices) will be beneficial to global growth, but some pain to reach This success can be a price that must be paid.”
For its part, the US Treasury Department, in response to the International Monetary Fund’s reduction of its forecast for the growth of the US economy, said that it appreciates the economic vision presented by the Fund.
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