The International Monetary Fund (IMF), a specialized agency of the United Nations that fosters international monetary cooperation and exchange rate stability, upgraded its 2014 United States Growth View to 2.8 percent in the latest report filed on Tuesday, January 21. Although this is the first time in nearly two years that the IMF projections for the domestic economy ticked upward, the group still warns that uncertain events on the horizon concerning economic policy both stateside and abroad could easily derail an already fragile recovery.
Rising demand and inventories from advanced economies like the United States helped imbue a renewed sense of confidence from the IMF, while emerging markets saw their prospects lag. However, while this will certainly be interpreted as good news for overly positive supporters of President Barack Obama's current economic policy, more realistic and understandably apprehensive prognosticators are well aware of the prospect of inflation, which could easily put a halt to any economic gains.
Internationally, the IMF anticipates that the global economy will increase 3.7 percent in 2014, which is up 0.1 percent from the projections fielded in October by the group. The IMF has even been so optimistic as to project a 3.9 percent jump in growth in 2015, though the specifics on such a forecast tend to be extremely fluid and are prone to shifting as the year progresses.
Don't rely on forecasts when planning for your future, especially when conditions are currently still so rocky and these reports are hardly reliable for long-term financial planning. Guard your assets, preserve your wealth and plan to secure your retirement investments wisely before you leave the workforce for good.