U.S. economic growth will exceed the International Monetary Fund's downgraded estimate if the Trump administration's policies are implemented, U.S. Treasury Secretary Scott Bessent said Wednesday, speaking at the Institute of International Finance Global Outlook Forum in Washington, D.C.
The IMF on Tuesday downgraded its U.S. growth estimate for this year to 1.8% from 2.7% in its January estimate based on headwinds it sees being generated by the administration's tariff policies. This would be full percentage point below its 2024 expansion.
The IMF doesn't expect a U.S. recession, though it has raised its odds of one this year from 25% to 37%.
The outlooks for the U.S. and global economies have declined in the wake of President Donald Trump's tariffs, the International Monetary Fund said Tuesday.
The IMF said that the global economy will grow just 2.8% this year, down from its forecast in January of 3.3%, according to its latest World Economic Outlook. And in 2026, global growth will be 3%, the fund predicts, also below its previous 3.3% estimate.
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