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IMF raises U.S. 2021 growth forecast to 7%, fastest pace in a generation

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WASHINGTON (Reuters) – The International Monetary Fund raised its 2021 U.S. growth projection sharply to 7.0% on Thursday from a 4.6% forecast issued in April, due to unprecedented fiscal and monetary support. The IMF, in its annual “Article IV” assessment of U.S. economic policies, said the revised forecast represents the fastest pace of growth in a generation for the United States. It raised its 2022 U.S. GDP growth forecast to 4.9%, up from its previous 3.5% April forecast. The new forecasts assume that the U.S. Congress will pass the Biden administration’s infrastructure, social spending a…

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