US economy will ‘narrowly avoid’ recession in 2022 and 2023, IMF says
WASHINGTON, June 26 (NNN-AGENCIES) — The US economy is likely to slow in 2022 and 2023 but will “narrowly avoid a recession” as the Federal Reserve implements its rate-tightening plan to curb inflation, the International Monetary Fund said.
“The policy priority now must be to expeditiously slow wage and price growth without precipitating a recession” the IMF said in a statement. “This will be a tricky task,” as global supply constraints and domestic labor shortages are likely to persist, and the war in Ukraine creates additional uncertainties, it said.