IMF Revising Growth Expectations / Currency Manipulation

The IMF is now expecting the US to grow at a slower pace than they predicted in July.  They are say ing 2010 is now 2.6% vs. 3.3% and 2011 is 2.3% vs the previous 2.9%.  They are attributing this to lower consumer spending than expected brought about by the high unemployment rate, home prices, tight credit and a desire to save more.

http://www.bloomberg.com/news/2010-10-06/imf-cuts-u-s-growth-estimates-as-consumer-spending-languishes.html

IMF also commented on the currency devaluation that is currently causing so much reaction in the markets.

http://www.reuters.com/article/idUSTRE6950OE20101006