IMF says U.S. inflation remains ‘stubbornly high,’ forecasts peak of 5.4% in 2023

International Monetary Fund (IMF) chief Kristalina Georgieva said on Friday that U.S. interest rates will likely need to remain higher for longer to tame inflation, forecasting that the federal funds rate will peak at 5.4 per cent in 2023 and ease to 4.9 per cent in 2024. “Inflation remains stubbornly high,” Georgieva said. “It’s telling us the job is not quite yet done.”