The International Monetary Fund said Friday in a new report that the US can avoid a recession this year, and that the Federal Reserve should raise interest rates again and hold them there through late next year.
Amid persistent inflation, the IMF says the Fed needs to raise rates by another quarter percentage point to a range of 5.25%-5.5% from the current range of 5%-5.25%.
IMF Managing Director Kristalina Georgieva suggested during a press conference Friday that there could be upside to interest rate hikes, but it would depend on the data.
Read More : IMF urges Fed to raise rates more, stating “The job is not quite yet done”