The United States is on a "narrow path" to avoid a recession in the face of inflation and interest rate hikes, IMF chief Kristalina Georgieva said on Friday as the institution cut its growth projections for the world's largest economy.
Read alsoThe IMF will lower its global growth forecasts for 2022
The IMF now projects a 2.9% expansion for US gross domestic product in 2022 from 3.7% projected in April.
For 2023, growth falls to 1.7%, according to these new projections from the International Monetary Fund, which also invites Washington to remove the customs duties imposed five years ago to
"boost economic performance and ease supply constraints"
.