United States: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United States

July 22, 2021

Preview Citation

Format: Chicago

United States: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United States, (USA: International Monetary Fund, 2021) accessed December 21, 2024

Summary

The new administration’s policies have put the U.S. economy on a strong footing. An effective vaccine rollout has put the number of new COVID-19 cases on a firmly downward path. At the same time, unprecedented fiscal support is quickly restoring the economy back to full employment and generating positive outward spillovers to the world economy. These efforts have not been costless: the path for public debt is far higher; the current account deficit has grown; and very accommodative financial conditions have led to increased corporate and nonbank leverage and rising valuations across a range of assets. The pandemic continues to weigh heavily on those at the lower end of the income distribution, exposing longstanding inequities in access to quality healthcare and education (many of which have an important gender and racial dimension).

Subject: COVID-19, Health, Income, Inflation, International organization, Monetary policy, National accounts, Prices, Public debt

Keywords: Article IV discussion, COVID-19, FSOC member, Global, Income, Inflation, Inflation expectation, Liability positions vis-à-vis nonresident, Money market rate

Publication Details

Pages:

92
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/162
Stock No:

1USAEA2021001
ISBN:

9781513591810
ISSN:

1934-7685

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