Yahoo TV

According to the International Monetary Fund's (IMF) new World Economic Outlook report, global economic growth will remain resilient. Yahoo Finance reporter Jennifer Schonberger joins anchor Madison Mills to break down Tuesday's report.

Schonberger explains that the IMF sees the global economy expanding by 3.2% this year, on par with the growth seen in the previous year. She adds that the chances of a global recession this year are pegged at just 10%. Global inflation is also expected to continue to decline, driven by a drop in core inflation, elevated interest rates, weakening job markets, and relief from higher energy prices. Schonberger notes, however, that this forecast was made before Iran's air attack on Israel.

The IMF also sees inflation driving expectations for global central banks to begin cutting rates in the second half of the year, with the international institution predicting the Fed will cut rate three times in 2024 by the fourth quarter, Schonberger explains.

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This article was written by Gabriel Roy.