IMF sees U.S. economy in 'good shape' overall

Growth set to accelerate from recent setbacks despite overvalued dollar
By David Lawder
|payroll-reporter.com|Last Updated: 06/22/2016

The International Monetary Fund said on Wednesday that the U.S. economy was "overall in good shape," with growth set to accelerate from recent setbacks despite an overvalued dollar, but the fund warned that too many Americans were living in poverty.

In its annual review of U.S. economic policies, the IMF said that it expects U.S. growth to be 2.2 per cent in 2016 and 2.5 per cent in 2017, with inflation rising slowly toward the Federal Reserve's goal of two per cent.

"At today's level of the real effective exchange rate, the current account deficit is expected to rise above 4 percent of GDP by 2020, pointing to the U.S. dollar being overvalued by 10-20 percent," the IMF said in its report.

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