United States: Staff Report for the 2011 Article IV Consultation
IMF Staff Country Reports, July 25, 2011
Source details
- Canonical URL
- United States: Staff Report for the 2011 Article IV Consultation
Other formats
Bibliographic details
- Published: July 25, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781462317363.002
Summary findings
- The U.S. economy continues to recover at a modest pace, in line with international experience following severe financial crises.
- The key priority for fiscal policy is to stabilize the debt ratio and gradually reduce it.
- Executive Directors recommend policy efforts to ease the adjustment of the housing and labor markets.
- Strengthening the domestic and international crisis-prevention architecture for financial institutions should be a priority.
- A multilateral approach to economic policy management is critical.
Macroeconomic outlook
- Recovery described as "modest" and consistent with patterns following severe financial crises.
- Emphasis on aligning policy responses with international experience.
Fiscal policy priorities
- Stabilize the debt ratio.
- Gradually reduce the debt ratio over the medium term.
- The fiscal framework should include an endorsement of the main medium-term fiscal objectives.
Housing and labor markets
- Policy efforts recommended to ease the adjustment of the housing market.
- Policy efforts recommended to ease the adjustment of the labor market.
Financial sector and crisis prevention
- Strengthen the domestic crisis-prevention architecture for financial institutions.
- Strengthen the international crisis-prevention architecture for financial institutions.
Policy approach and governance
- Endorsement of medium-term fiscal objectives as part of the fiscal framework.
- A multilateral approach to economic policy management is emphasized as critical.
United States: Staff Report for the 2011 Article IV Consultation, IMF Staff Country Reports 2011, 201 (July 25, 2011).
Content in this bundle
- United States: 2011 Article IV Consultation -- Staff Report; IMF Country Report 11/201; July 7, 2011