The International Monetary Fund isn’t buying what President Trump is selling on tax reform.
The IMF released economic forecasts on Tuesday that assume Trump will not deliver an overhaul of the U.S. tax system this year or next.
The group said in its latest Global Economic Outlook that it expects U.S. policies to remain unchanged because of “significant policy uncertainty.” In April, the IMF’s forecast had assumed a stimulus boost driven by “then-anticipated tax cuts.”
The U.S. economy is now predicted to grow by 2.2% in 2017 and 2.3% in 2018. That’s slightly faster than the IMF expected in July, but slower than its April forecast of 2.3% growth this year and 2.5% in 2018.
Trump has promised growth of 3% in his first term, a rate the IMF has previously described as being “extremely optimistic.”
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