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-- -- Well -- we came here to Washington DC we landed -- first on Fox Business exclusive interview with.
The managing director of the International Monetary Fund on the very day where they released this this is their 2013.
Final estimate on what they expect for the US economy for this year and then they give us a little hint of what's coming up in 2014.
One of the most important points that really jumped out at me is in the past they have said.
That the sequester those automatic spending cuts that kicked in earlier this year that that needed to be replaced that was the word they used well now they say in this report.
It needs to be repealed why madame Lagarde is now saying that she believes that the cuts are way too stressful -- dramatic and she sees because of them.
Stronger headwinds to consumer demand over the next few quarters listen -- how she articulate says.
When we full cost -- 3% we have assumed that sequestration will gradually be removed and reform opted to more intelligently.
And we haven't seen that yet and we haven't -- -- and we -- but we're not going to see it in the near term which is why we believe that's a frustration will actually in -- Growth in the United States in 2014.
Which is why we downgraded slightly from 3% to two point 7%.
-- just better frankly David that's what we -- for 2012 and 20/20 eleven so.
There is incremental improvement but it it was a little stunning to hear how concern she is about it.
We sort of felt lately that every expert has come on out our show has said you know what we made it through that rain OK maybe it was tough love we have to deal with those cuts.
She says there will be delayed reaction that that the consumer may get hit in the second half of 2013.
And it may in turn affect the economic recovery here -- she was very positive about growth in housing here back to David which is still.
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