The international economic organization heralded progress on inflation while warning about anti-globalization policies and geopolitical tensions.

The IMF sees a soft landing for the global economy this year and next, but it warns that elections introduce a 'high' level of uncertainty to that outlook due to potential changes in trade and fiscal policy.

The IMF expects the U.S. economy — the world’s largest — to expand 2.8% this year, down slightly from 2.9% in 2023 but an improvement on the 2.6% it had forecast for 2024 back in July. Growth in the United States has been led by strong consumer spending, fueled by healthy gains in inflation-adjusted wages.