IMF cuts 2014 U.S. growth outlook

|By:, SA News Editor

Following unexpected Q1 weakness in the U.S. economy, the IMF trims its full-year 2014 U.S. growth forecast to 1.7% from 2%, but sees that level picking up to 3% over the next 18 months.

The agency also sees the first Fed rate hike coming about a year from now, but labor market slack and low inflation should allow the central bank to slowly ratchet up interest rates.