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IMF upgrades global growth outlook
The IMF is taking a slightly more upbeat view of the prospects for the global economy, revising upward its expectations for the US economy. But IMF officials are warning about the potential for higher inflation in the US if president-elect Donald Trump follows through with his threats to impose broad tariffs on all US imports from Canada, Mexico and China. "Higher tariffs or immigration curbs will play out like negative supply shocks, reducing output and adding to price pressures," IMF head of research Pierre-Olivier Gourinchas said. In an update to its World Economic Outlook released today, the IMF projected ... (full story)