The International Monetary Fund (IMF) issued a report addressing the U.S. economic outlook. Topline: the IMF said the Federal Reserve shouldn’t cut interest rates until “late 2024.” IMF chief economist Pierre-Olivier Gourinchas said that due to a strong labor market, the Fed “could afford to wait” longer before cutting rates. The IMF added that to slow the growing federal deficit, the government should raise taxes in the future, including on households earning less than President Biden’s $400,000-a-year threshold. The IMF has been urging the need for greater fiscal responsibility as federal deficits continue to grow despite robust economic growth. Download the report: https://bit.ly/3YaaAct
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