*WASHINGTON – The head of the International Monetary Fund underscored theimportance of fighting inflation now to shore up the prospects for economicgrowth in the future, warning that doing so could cause “some pain” toconsumers in the short run.*
“Success over time (in lowering prices) will be beneficial for globalgrowth, but some pain to get to that success can be a necessary price topay,” Kristalina Georgieva said, as the IMF cut its US growth forecast for2022 by 0.8 percentage point to 2.9%.
Georgieva said the IMF believed the United States could escape a recession,but warned that the outlook had “significant” downside risks.
