Photographers follow International Monetary Fund (IMF) Managing Director Christine Lagarde as she arrives to discuss the IMF's annual review of the U.S. economy in Washington June 16, 2014. REUTERS/Kevin Lamarque
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The International Monetary Fund cut its growth forecast for the U.S. economy this year and said that the Federal Reserve may have scope to keep interest rates at zero for longer than investors expect.The Washington-based IMF now sees the world's largest economy growing 2 percent this year, down from an April estimate of 2.8 percent. A year ago, the IMF projected potential growth rates at 2.3 percent in 2015-2016 and 2.4 percent in 2017-2018 .The IMF forecast comes less than a week after the World Bank reduced its 2014 growth forecast for the U.S., to 2.1 percent from 2.8 percent.The IMF offered its advice two days before the Fed meets in Washington.
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