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Politics : Stockman Scott's Political Debate Porch

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To: SOROS who started this subject8/5/2003 11:07:09 PM
From: sylvester80  Read Replies (1) of 89467
 
JUST IN! IMF: U.S. recovery is uneven

money.cnn.com

Monetary Fund says 'decisive action' is needed in fiscal policy, Fed has room to cut rates.

August 5, 2003: 8:11 PM EDT

WASHINGTON (Reuters) - The IMF said on Tuesday the U.S. economic recovery was gathering steam but remained uneven, adding that the Federal Reserve had room for more interest rate cuts if disinflationary pressures persisted.

In its review of the U.S. economy, the International Monetary Fund expressed concern about the erosion in the government budget position, due in part to the latest tax cuts. It said mounting deficits could make it tough to cope with the demands of the aging baby-boom generation and risked crowding out investment and hurting productivity growth.

The Washington-based lender said "decisive action" was needed on the fiscal front.
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