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IMF Slashes U.S. Forecast, Warns of Recession

IMF Slashes U.S. Forecast, Warns of Recession
Published September 20, 2011

Europe and the United States could slip back into recession next year unless they quickly tackle conomic problems that could infect the rest of the world, the International Monetary Fund said on Tuesday.

The IMF said financial volatility had increased dramatically as investors worried about an escalating debt crisis in the euro zone and a weakening U.S. recovery.

Those two regions present the biggest risks to the global conomic outlook, it said, warning that political gridlock could block remedial action. The fund also called for a more ambitious plan to lower Japan’s public debt.

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