Monday, 16 June 2014

IMF cuts US growth forecast as it urges minimum wage hike!

US snow storm
The International Monetary Fund (IMF) has slashed its US growth forecast, urged policy makers to keep interest rates low and raise the minimum wage to strengthen its recovery.
The crisis lender said it expects 2% growth this year, down from its April forecast of 2.8%, after a "harsh winter" led to a weak first quarter.
However it expects 3% growth in 2015.
It also said the US should increase its minimum wage to help address its 15% poverty rate.
"Given its current low level (compared both to US history and international standards), the minimum wage should be increased," the IMF said in its annual assessment of the US economy.

No comments:

Post a Comment