Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al-Saadi: There were concerns that Lahham would be placed under administrative detention.
Al-Saadi: The Israeli occupation authorities could not prove any allegations leveled against Nasser Lahham.
Lawyer Oussama al-Saadi: The oppressive Israeli measures of delaying Lahham's release had vengeful motives.
Nasser Lahham's lawyer said the journalist was released without any conditions or restrictions, adding that the conditions in which he was kept were terrible.
The Israeli occupation authorities release Al Mayadeen Palestine bureau chief Nasser al-Lahham.
Local Syrian sources: An Israeli airstrike targeted a tank and artillery battalion in the city of Izraa in the Daraa countryside
Al Mayadeen's correspondent in eastern Lebanon: 12 martyrs and 5 wounded in Israeli raids targeting the outskirts of Wadi Fa'ra in the northern Bekaa Valley
Local Syrian sources: More than 10 Israeli raids targeted Sweida, with information about more than five casualties from the Internal Security Forces
Local Syrian sources: Initial reports indicate that approximately 15 people were killed or wounded at the al-Radwan family's guest house in Sweida following a direct exchange of gunfire
Israeli media, citing Israeli political sources, reported that the Shas movement is expected to withdraw from the government within less than 24 hours

US before 'very narrow path' to avert recession: IMF

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Jul 2022 19:24
3 Min Read

The United States economy is being hit with various simultaneous crises, and according to the IMF, it only has a few paths toward salvation before entirely collapsing.

  • x
  • Shoppers wait in a check-out line at a wholesale store in Orlando, Florida, United States
    Shoppers wait in a check-out line at a wholesale store in Orlando, Florida, United States

Given the numerous risks the United States is facing, the country only has a meager chance of averting an economic slump, the IMF warned on Tuesday.

"It's a very narrow path," IMF chief economist Pierre-Olivier Gourinchas said. "The current environment suggests that the likelihood that the US economy can avoid a recession is actually quite narrow." 

Even a "small shock" could tip the US economy into recession, he added.

The IMF drastically reduced the growth prediction for the United States this year from 3.4% in April to 2.3% in its most recent update to the World Economic Outlook.

Growth is even projected to slow down even further, with expectations that the US economy will only grow by 1%.

The US central bank has been sharply hiking interest rates to quell raging inflation, which is hampering economic growth.

Another hike is expected to be announced at the conclusion of the Federal Reserve's two-day policy meeting on Wednesday. Other increases are expected to follow suit in the coming months.

Related News

Hezbollah condemns Israeli Bekaa massacre, urges action from Lebanon

Lavrov seeks clarity on Trump's ceasefire or secondary tariffs threat

While the US labor market is now healthy, with an extremely low unemployment rate of 3.6%, Gourinchas said, he noted that the IMF anticipated that "as this monetary policy tightening continues, then it's going to progressively cool off also the labor market," leading unemployment to increase.

Though Current forecasts call for a slowing, there is no downturn, but there are "signs of an economy that is slowing down," Gourinchas told reporters. 

High inflation could become rooted in the US economy, according to the Federal Reserve, pushing the latter to further hike interest rates.

US government data released at the end of June showed that price increases that had held steady in the past 12 months ended in May, while the rise in consumer spending slowed sharply.

This, according to some, may give solace to consumers as a sign that the Federal Reserve's aggressive interest rate plans are beginning to have an effect in limiting the fastest uptick in inflation seen in more than four decades.

Compared to May 2021, the Personal Consumption Expenditures (PCE) price index rose 6.3%, the same pace as in the prior month, despite it rising 0.6% compared to April, according to the Commerce Department.

Meanwhile, the Fed has been for the past few months aggressively hiking interest rates to try and lower rising prices, but its efforts did not materialize in May, with consumer prices hitting four-decade highs. Consumer prices in May rose 8.6% and soared over what economists thought was the peak in March.

The Biden administration has tried to absolve itself from responsibility for the widespread inflation hitting the country, with Biden himself trying to cast the blame on Russia for the record food and gas prices affecting US citizens.

Energy prices have risen 34.6% over the past year, the fastest since September 2005, food prices have increased 10.1%, and the cost of fuel oil increased by more than two-fold, soaring 106.7% - the largest increase in the history of the consumer price index. A gallon of gas across the US reached $5 nationwide for the first time in history, setting a new record for oil prices.=

  • United States
  • Federal reserve
  • Russia
  • inflation
  • US inflation
  • Gas prices
  • Joe Biden

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025
This satellite image from Planet Labs PBC shows damage after an Iranian attack at the al Udeid Airbase outside of Doha, Qatar, June 25, 2025 (Planet Labs PBC via AP)

Satellite images show Iran attack damaged US comms dome in Qatari base

  • Politics
  • 11 Jul 2025
An Israeli soldier abandons an excavator during an ambush by al-Qassam Brigades. Arabic text reads "The moment the soldier fled", July, 10, 2025 (Al Qassam Military Media)

Israeli media rue al-Qassam footage, alarmed by fighters among troops

  • Politics
  • 11 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Syrian government forces deploy at the Mazraa village on the outskirts of city of Sweida, where clashes erupted between Bedouin clans and Druze factions, southern Syria, Monday, July 14, 2025 (AP)
Politics

Gulf-backed negotiations underway in Syria's Sweida to end clashes

UN: 798 Palestinians killed while trying to reach aid in Gaza
Palestine

UN: 798 Palestinians killed while trying to reach aid in Gaza

A damaged car is seen at a field that was hit in an Israeli airstrike in Nabi Sheet village, in Lebanon's eastern Bekaa Valley, Wednesday, August 21, 2024 (AP)
Politics

Hezbollah condemns Israeli Bekaa massacre, urges action from Lebanon

Palestinians walk next to the closed humanitarian aid distribution center of UNRWA, the UN agency helping Palestinian refugees in Jabaliya, Gaza Strip, on Tuesday, April 29, 2025 (AP)
Politics

Israeli regime cuts electricity, water supplies to UNRWA Gaza offices

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS