Jan 16, 2017

IMF: Trump stimulus will boost growth

Trump's economic policies are up in the air, but the IMF likes what it's hearing. Its new economic forecast predicts the U.S. economy will grow by 2.3% this year and 2.5% in 2018, well above the 2016 pace of 1.6%.

The IMF's sunnier forecasts rests on the idea that the Trump Administration will usher in an era of higher deficit spending and growth-friendly tax reform.

Don't get too excited: The IMF said its updated forecast is "particularly uncertain," given the unpredictable politics of Washington in 2017. It cautioned that any deficit spending should be aimed at productivity boosting infrastructure spending or shoring up social safety nets. And the Trump Administration risks higher inflation, unproductive increases in debt, and a strong reaction from the Federal Reserve if its stimulus is too large or overly generous toward the rich.

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Updated 1 hour ago - Politics & Policy

U.S. cities crack down on protesters

The scene near the 5th police precinct during a demonstration calling for justice for George Floyd in Minneapolis on Saturday. Photo: Kerem Yucel/AFP via Getty Images

Major U.S. cities have implemented curfews and called on National Guard to mobilize as thousands of demonstrators gather across the nation to continue protesting the death of George Floyd.

The state of play: Hundreds have already been arrested as tensions continue to rise between protesters and local governments. Protesters are setting police cars on fire as freeways remain blocked and windows are shattered, per the Washington Post. Law enforcement officials are using tear gas and rubber bullets to try to disperse crowds and send protesters home.

Updated 2 hours ago - Politics & Policy

George Floyd protests: What you need to know

Photo: David Dee Delgado/Getty Images

Clashes erupted between law enforcement and protesters in several major U.S. cities Saturday night as demonstrations over the death of George Floyd and other police-related killings of black men spread across the country.

The big picture: Floyd's death in Minneapolis police custody is the latest reminder of the disparities between black and white communities in the U.S. and comes as African Americans grapple with higher death rates from the coronavirus and higher unemployment from trying to stem its spread.

Updated 3 hours ago - Politics & Policy

In photos: Protesters and police clash nationwide over George Floyd

A firework explodes behind a line of police officers next to the Colorado State Capitol during a protest over the death of George Floyd in Denver on May 30. Photo : Michael Ciaglo/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd continued nationwide into early Sunday.

The big picture: Police responded over the weekend with force, in cities ranging from Salt Lake City to Atlanta to Des Moines, Houston to Detroit, Milwaukee to Washington, D.C., Denver and Louisville. Large crowds gathered in Minneapolis on Saturday for the fifth day in a row.