The International Monetary Fund (IMF) has revised its forecast for U.S. economic growth, raising its 2025 projection to 2.2%. The updated outlook was published in the IMF’s latest report on global economic prospects.

The new forecast marks a 0.3 percentage point increase from the IMF’s previous estimate in July.

In September, the U.S. Federal Reserve, which serves as the country’s central bank, lowered its benchmark interest rate to a range of 4.75% to 5.00%. The rate cut was widely anticipated by the market, as the figure had been at its highest level since 2000. The Fed last lowered interest rates in 2020 to support the economy during the pandemic but later raised them to a peak of 5.25%–5.50% in response to rising inflation.