IMF cut US 2014 forecast
The International Monetary Fund cut its forecast for US 2014 economic growth this year by 0.8% to 2%, citing a harsh winter, a struggling housing market and weak international demand for the country's products. Economists say the Federal Reserve will hold its interest rate low even longer than investors expect.
The fund maintained its 3% GDP outlook for 2015, saying a meaningful economic rebound is on the way. Still, the IMF said the US officials must do more to stimulate growth in the near term.