WASHINGTON under armour speedform gemini sale , June 27 (Xinhua) -- The International Monetary Fund (IMF) on Tuesday downgraded its growth forecasts for the U.S. economy in 2017 and 2018, citing significant policy uncertainties.
While the Donald Trump administration proposed reduction of fiscal deficit and debt, reprioritization of public spending and revamp of the tax system, "it became evident that many details about these plans are still undecided," the IMF said in a statement after concluding the Article IV consultations with U.S. authorities, an annual check-up of economic and financial policies between the IMF and its member countries.
Given these significant policy uncertainties under armour scorpio sale , the IMF decided to remove the assumed fiscal stimulus from its forecasts for the U.S. economy earlier this year and base its new projections on unchanged policies.
"Specifically, it neither builds in the effect of tax reform nor the expenditure reductions proposed in the administration's budget," the IMF said, expecting the U.S. economy to grow 2.1 percent both in 2017 and 2018, down 0.2 and 0.4 percentage points respectively from its previous forecasts in April.
However, significant policy uncertainties imply "larger-than-usual under armour slingride tri , two-sided risks" to the forecasts, the IMF said.
On the one hand, a medium-term path of fiscal consolidation would result in a growth rate that is below this baseline. On the other hand, spending reductions could be less ambitious and tax reforms could lower federal revenues, providing stimulus to the economy, and raising its near-term growth.
However under armour spine disrupt sale , the IMF believed the Trump administration is unlikely to accelerate annual U.S. economic growth to sustained 3 percent from 1.6 percent last year, "even with an ideal constellation of pro-growth policies."
"The international experience and U.S. history would suggest that a sustained acceleration in annual growth of more than one percentage points, as projected by the administration, is unlikely," the IMF said.
The IMF also said the Federal Reserve should continue gradually raising interest rates, as the central bank has largely achieved its dual mandate of price stability and maximum employment.
"Alongside the ongoing normalization in policy rates under armour fat tire sandals sale , it is appropriate that the Federal Reserve looks to unwind the post-crisis increase in its holdings of treasury and mortgage backed securities," the IMF said, noting continued clear communication would help the central bank smoothly shrink its balance sheet and avoid undue market volatility.
Earlier this month, the Fed raised the benchmark interest rates for the fourth time since December 2015 and unveiled a plan to trim its balance sheet later this year.
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It's hard to believe that a player who went scoreless on his NBA debut would be a shoe-in for the Hall of Fame, but Yao Ming remains unique in the world of basketball.
Other players finished with far better stats and more silverware - in fact, Yao's Rockets only ever won one playoff series - but, when healthy, Yao Ming was one of the most dominant centers ever to play the game. More than that, though under armour outlet online , no one blazed a trail quite as bright as he did.
Two years in a row he led the NBA in All-Star voting - the only non-American to do so - and while those totals were undoubtedly padded by a healthy contingent of patriotic voters back home, the fact that he was able to galvanize a nation of sports fans into action is testament to his lasting legacy.
Top players in any sport spawn a -generation of copycats, with youngsters vying to be just like their hero or heroine in the playground, but how can you even pretend to be someone who is seven and a half feet (2.26 meters) tall? Even though Chinese youngsters were more likely to mimic the style of someone like Allen Iverson, however, Yao still inspired a generation of ballers.
In fact under armour outlet sale , peers like Kobe Bryant who wowed the fans rather than just got on with the job, as Yao did, owe much of their popularity in China to Yao - without the big man, many of those fans may not have been watching in the first place.
And while Hall of Fame entry is typically intended to reward on-court achievements, Yao's stature off the court is arguably the most impressive part of his legacy.
An investor, student and conservationist since his retirement under armour outlet store , it is his humble nature and quiet humor that has made him among the most respected humans on the planet. He is still intimately involved in basketball as president of the Shanghai Sharks, and while rightly -envious of the attention that soccer - not basketball - is now receiving in China, his public comments have remained diplomatic.
If there is one area in which he can be faulted, it's the fact that he has condemned future athletes in China to forever come up short of his impossible standards, as the elusive quest for the ""next Yao Ming"" continues in vain.
Liu Xiang's domestic profile was comparable with Yao's, but the hurdler was largely unknown overseas. Meanwhile under armour outlet , Li Na won millions of international fans in the later years of her career, but tennis doesn't resonate in the same way as basketball does in -China. Whoever China's next truly -global sports star is - and whatever sport he or she plays - it's safe to say that there will never be another quite like Yao.
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