WASHINGTON, July 13. /TASS/. The Executive Board of the International Monetary Fund (IMF) concluded that avoiding an economic recession in the United States is becoming increasingly difficult, according to a document published on Tuesday.
"Directors recognized that calibrating the response to inflation comes with high stakes and that misjudging the policy mix - in either direction - will result in sizable costs at home and negative spillovers to the global economy," the document says.
"They concurred that avoiding a recession in the United States is becoming increasingly challenging," it said.
The document says that a number of factors are creating "additional challenges" for the US economy, including the Russian special military operation in Ukraine, as well as "the lingering COVID-19 pandemic, and supply side constraints."
According to the Executive Board, the policy priority for the United States "must be to expeditiously slow price growth without precipitating a recession."
The government was recommended "rolling back the trade restrictions and tariff increases that were introduced over the past five years."
"More generally, they called on the authorities to work actively with trading partners to strengthen the rules-based multilateral trading system centered around the WTO," the document says.