While the International Monetary Fund recently cut its growth projections for the U.S. economy, it also raised its unemployment-rate estimates through 2025. The fund also warned that a significant surge in inflation poses “systemic risks” to both the country and the global economy.
In addition, Goldman Sachs slashed its second-quarter outlook for GDP to just 0.7%, down from the earlier expectation of a 1.9% increase. This, combined with a decline of 1.6% in the first quarter, indicates that the economy is headed toward a recession.
