IMF Predicts Slower Global Growth Due to High Rates, War, and Unrest

IMF predicts global GDP growth will slow to 2.9% in 2024 due to high interest rates, Ukraine war, and Middle East tensions.

World economy is "limping along" and faces risks from oil price spikes caused by Israel-Gaza conflict.

U.S. economy forecast to grow 2.1% this year and 1.5% in 2023, slightly better outlook than July.

Inflation remains high globally, projected at 5.8% in 2024, requiring tight monetary policy until prices steadily fall.

Bringing inflation to target levels expected to take until 2025 in most cases.