The International Monetary Fund (IMF) urges the U.S. government to address rising debt levels by raising taxes, especially on the wealthiest Americans and households earning less than $400,000 a year.

IMF forecasts a slight dip in GDP growth for 2024 and expects inflation to return to target levels by mid-2025.

The IMF recommends reforming entitlement programs and raising the threshold for eligibility for the Earned Income Tax Credit.

The IMF warns against intensifying trade barriers and tariffs, urging the U.S. to resolve differences with trading partners through negotiations and strengthen the World Trade Organization.

U.S. Treasury Secretary Janet Yellen acknowledges the IMF's recommendations and emphasizes the strong performance of the U.S. economy.

The full IMF report can be found on their website.