In the latest World Economic Outlook report from the International Monetary Fund (IMF), global economic growth is projected to remain strong. Yahoo Finance reporter Jennifer Schonberger breaks down the details of the report alongside anchor Madison Mills in a recent segment. According to Schonberger, the IMF forecasts a 3.2% expansion in the global economy this year, which is consistent with growth levels from the previous year. The likelihood of a global recession occurring in 2024 is estimated to be just 10%.
Schonberger also mentions that global inflation is expected to continue decreasing due to factors such as a decline in core inflation, higher interest rates, weakening job markets, and relief from elevated energy prices. It is important to note, however, that this forecast was made before the recent Iran air attack on Israel. Additionally, the IMF anticipates that central banks around the world will start cutting rates in the latter part of the year in response to inflation trends. The IMF specifically predicts that the Federal Reserve will reduce rates three times by the fourth quarter of 2024.
To stay informed with expert analysis and the latest market developments, viewers can access the full episode on Yahoo Finance. This article was authored by Gabriel Roy.