The International Monetary Fund (IMF) on Thursday said the U.S. economy was showing signs of strain after a series of dismal job reports and uncertainty on tariff revenue.<\/p>\n\n\n\n
\u201cWhat we\u2019ve seen over the past few years is that the U.S. economy has proven to be quite resilient. We do see now that some strains are beginning to show,\u201d IMF spokesperson Julie Kozack said during a regular briefing, according to Reuters<\/u><\/a>.<\/p>\n\n\n\n \u201cDomestic demand has been moderating in the U.S., and job growth is slowing.\u201d <\/p>\n\n\n\n Kozack said the country was on track to lower inflation rates to 2 percent but noted that fluctuating trade rates could impact the projected number.<\/p>\n\n\n\n Over the summer, Pierre-Olivier Gourinchas, economic counselor and director of research at IMF, described trade conditions as \u201cprecarious,\u201d highlighting the potential for negative supply disruptions.<\/p>\n\n\n\n \u201cWithout comprehensive agreements, the ongoing trade uncertainty could increasingly weigh on investment and activity,\u201d Gourinchas said during the World Economic Outlook update<\/u><\/a> in July.<\/p>\n\n\n\n \u201cFurther, while exports front-loading has supported global activity so far, firms could become vulnerable if the demand for stockpiled goods does not materialize,\u201d he added. <\/p>\n\n\n\n The Trump administration is currently awaiting approval for foreign tax rates after a federal judge determined tariffs set under the International Emergency Economic Powers Act were unlawful. <\/p>\n\n\n\n The president is working to have the decision appealed in arguments before the Supreme Court.<\/p>\n\n\n\n As President Trump awaits an answer on foreign policy constraints, his administration has raised concerns about inaccurate data from the Bureau of Labor Statistics (BLS), which has suggested a weakening economic outlook for the U.S.<\/p>\n\n\n\n The U.S. economy added 911,000 fewer jobs<\/u><\/a> over the 12 months ending in March than the BLS initially reported, according to newly<\/u><\/a> released data.<\/p>\n\n\n\n In response to the discrepancy, the Labor Department\u2019s internal watchdog says it is initiating a review<\/u><\/a> of how the BLS compiles economic data.<\/p>\n\n\n\n On Thursday, Kozack noted mistakes should be mitigated to improve U.S. financial standing among the world.<\/p>\n\n\n\n \u201cThis kind of data transparency strengthens the credibility of economic management in all countries,\u201d she said.<\/p>\n\n\n\n