IMF: No U.S. Growth 'Til Mid-2009
The International Monetary Fund here in Washington issued a report this morning saying that economic growth in the U.S. and the Western Hemisphere will be close to zero or maybe even slightly negative through the end of the year, thanks to the cascading effects of the ongoing financial crisis.
Any U.S. recovery won't come until at least summer of next year, the IMF said.
The IMF used data from as late as this month to make its prediction.
According to the IMF, Latin America and Caribbean nations will out-grow the U.S. in coming months, expanding at a 3 percent clip.
Dominique Strauss-Kahn, the IMF's director, is under investigation for an affair he had with an employee.
-- Frank Ahrens
Posted by: Night Mayor | October 22, 2008 7:38 PM | Report abuse
Posted by: Night Mayor | October 22, 2008 8:05 PM | Report abuse
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