United States: Staff Report for the 2012 Article IV Consultation

IMF Staff Country Reports, August 2, 2012

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United States: Staff Report for the 2012 Article IV Consultation

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Bibliographic details

• Published: August 2, 2012
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475504903.002

Overview

• The U.S. economy is experiencing a slow-paced growth rate despite bolstering attempts.
• Financial reforms and highly accommodative monetary policy are hoped to have a desired effect.
• Executive Board emphasized immediate attention to deficit reduction, debt ratio stabilizing strategies, removal of fiscal cliff uncertainties, and effective implementation of housing and labor market holstering policies.
• Directors commended U.S. efforts in fostering international coordination on financial regulatory reforms and in securing successful multilateral trade negotiations.
• Subject areas: Banking, Financial crises, Financial institutions, Housing prices, Mortgages, Prices, Public debt, Securities.

Key findings and near-term growth assessment

• Slow-paced growth rate of the U.S. economy is disheartening.
• Expectations that implementing financial reforms and highly accommodative monetary policy will improve outcomes.
• Near-term risks linked to fiscal uncertainties, including the "fiscal cliff".
• Housing and labor market weaknesses require effective implementation of supportive policies.

Policy recommendations and priorities

• Deficit reduction strategies to stabilize the debt ratio.
• Removal of fiscal cliff uncertainties to support growth and stability.
• Effective implementation of housing policies to address housing prices and mortgage market fragilities.
• Labor market holstering policies to strengthen employment dynamics.
• Continued international coordination on financial regulatory reforms and support for multilateral trade negotiations.

Keywords and technical terms

• annualized real GDP growth
• CGER estimate
• CR
• estimate
• Europe
• fiscal cliff
• Global
• growth
• Housing prices
• ISCR
• Mortgages
• near-term growth
• Securities
• staff appraisal

Content in this bundle

• United States: 2012 Article IV Consultation; IMF Country Report No. 12/213; July 12, 2012
  • United States: 2012 Article IV Consultation; IMF Country Report No. 12/213; July 12, 2012 (Markdown version)
  • United States: 2012 Article IV Consultation; IMF Country Report No. 12/213; July 12, 2012 (PDF)