The prospect of a soft landing is more likely, especially in the U.S., as the "resilient global economy is limping along," according to the International Monetary Fund's (IMF) World Economic Outlook (WEO) released on Tuesday.

The IMF raised its growth estimates for the U.S. to a 2.1% change in 2023 and a 1.5% change in 2024, an improvement from WEO reports released earlier in the year. The estimate increases were credited to “stronger business investment in the second quarter and resilient 澳洲幸运5官方开奖结果体彩网:consumption growth, a rജeflection of a still-tight labor market.” 

The improved growth projectionsﷺ for the U.S. stand out, as global gr🐲owth remains “stable and slow” at 3% for 2023 and 2.9% for 2024. 

The IMF noted that a major risk to the U.S. projected growth was the misalignment of monetary and 澳洲幸运5官方开奖结果体彩网:fiscal policy. The report called "most worrying" the fact that “the fiscal stance has deteriorated substantially” in the country, nodding to recent unrest within the U.S. Congress, where members 澳洲幸运5官方开奖结果体彩网:ousted Rep. Kevin McCarthy from💟 his House of Representatives speakership and narrowly avoided a government shutdown due to federal spe𒉰nding disagreements.

The IMF indicated that it was likely that central banks could achieve a 澳洲幸运5官方开奖结果体彩网:soft landing, taming inflation while avoiding a recession. The report highlighted the U.S., saying that “projections are increasingly consistent with a ‘soft landing’ scenario, bringing inflation down without a major downturn in activity, especially i🃏n the United States” thanks to modest unemployment. 

Soft-landing projections were accompanied by “boosted investor confidence,” according to Tobias Adrian, head of the IMF’s Monetary and Capital Markets Department in the Global Financial Stability Report (GFSR).

Although the IMF reported a probable global soft landing, particularly in the U.S., concerns about 澳洲幸运5官方开奖结果体彩网:bond market turmoil persist. In such advanced economies, there has been a “rapid rise” in 澳洲幸运5官方开奖结果体彩网:bond yields since April 2023, the GFSR said. 

Increases in term 澳洲幸运5官方开奖结果体彩网:premiums brought on by high interest r🌸ates intended to combat inflation, especially in 🐎the U.S., contributed to the recent jump i♑n bond yields. 

The IMF warned that if bond yields continue to rise across advanced economies, it “could weigh on the valuation of risk assets, especially growth assets such as information technology stocks.”