Washington — The International Monetary Fund (IMF) cut its outlook for the US economy, removing assumptions of President Donald Trump’s plans to cut taxes and boost infrastructure spending to spur growth. The IMF reduced its forecast for US growth this year to 2.1%, from 2.3% in the fund’s April update to its world economic outlook. The Washington-based fund also cut its projection for US growth next year to 2.1%, from 2.5% in April. The world’s biggest economy will probably have a hard time hitting Trump’s target of 3% annual growth as it is faced with problems ranging from an ageing population to low-productivity growth, and with a labour market already back at full employment, the fund said in its annual assessment of the US economy released on Tuesday. Given broad uncertainty on policy, "we have removed the assumed fiscal stimulus from our forecast", Alejandro Werner, director of the IMF’s western hemisphere department, said at a press briefing in Washington. The IMF’s assessmen...
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