The United States economy, boosted by President Donald Trump’s tax cuts, is projected to grow 2.7% this year, according to an International Monetary Fund report released Monday.
As The Washington Post reports, the report delivers more positive economic news for the president as he passes his one-year mark in the White House. But the IMF cautions that deep inequality remains in the country and the growth is not expected to last long.
“We certainly should feel encouraged by the strengthened growth, but we should not feel satisfied. There are still too many people who are left out of that recovery and acceleration,” says IMF Managing Director Christine Lagarde.
The IMF had originally forecast just 2.3% growth for America but lifted its projection significantly after Republicans in late December passed the largest overhaul of the U.S. tax code in over 30 years.