Treasury Statement Following IMF Article IV Consultation [Date] The Treasury Department today issued the following statement following the International Monetary Fund (IMF) Article IV Consultation with the United States: “The U.S. Treasury welcomes the IMF’s Article IV Consultation and appreciates the Fund’s positive assessment of the U.S. economy. The IMF’s report highlights the strength of the U.S. economy, characterized by low unemployment, strong wage growth, and robust business investment. We agree with the IMF’s observation that the Tax Cuts and Jobs Act has provided a significant boost to economic growth and job creation. The IMF estimates that the Act will increase real GDP by 1.1% over the medium term, a testament to the positive impact of tax reform on businesses and individuals. The IMF also recognized the Administration’s focus on reducing the federal budget deficit. The IMF projects that the deficit will decline significantly over the next few years, thanks to a combination of economic growth, tax reform, and spending discipline. While the U.S. economy is performing well, we are not complacent. The Treasury is committed to working with Congress to address the remaining fiscal challenges facing the nation, including unsustainable levels of federal debt. We will continue to promote policies that foster economic growth, create jobs, and ensure the long-term health of the U.S. economy. We appreciate the IMF’s constructive dialogue and its ongoing support for the United States. We will continue to work closely with the IMF to promote global economic stability and prosperity.”Meeting between Treasury Secretary Yellen and IMF Managing Director GeorgievaMeeting between Treasury Secretary Yellen and IMF Managing Director Georgieva On an unspecified date, Treasury Secretary Janet L. Yellen met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva to discuss the upcoming Article IV consultation with the United States. During the meeting, Secretary Yellen emphasized the significance of candid and comprehensive evaluations of IMF member economies. She highlighted the robust performance of the U.S. economy, noting economic growth and employment that surpassed expectations. The discussion also touched upon the Biden Administration’s economic priorities, including climate change mitigation, poverty reduction, and enhancing the resilience and diversification of global supply chains. In line with the Treasury Department’s commitment to transparency, all Article IV documents related to the United States will be made available on its website after the Executive Board discussion in July. This includes the Final Declaration, the Treasury Staff Report, and the IMF and U.S. statements in response to the report.Treasury Statement Following IMF Article IV Consultation The Treasury released a statement today following the International Monetary Fund (IMF)’s recent Article IV consultation with the United States. The statement highlighted the following key points: * The IMF commends the U.S. economy’s resilience and strong recovery from the COVID-19 pandemic. * However, the IMF notes that risks remain, including the ongoing impact of the COVID-19 pandemic, geopolitical tensions, and rising inflation. * The Treasury agrees with the IMF’s assessment that addressing these risks and promoting sustained economic growth requires: * Fiscal policies that balance support for recovery with the need to reduce deficits in the medium term. * Continued efforts to control inflation, including through monetary policy measures. * Structural reforms to increase productivity and boost long-term economic potential. * The Treasury also notes the IMF’s recommendation to gradually reduce the Federal Reserve’s balance sheet, which could help mitigate inflation without harming economic growth. * The Treasury expresses its commitment to working with the IMF and other international partners to promote global economic stability and growth.