Fitch raises global economic growth expectations, but signs of slowing in the U.S. economy

According to ChainCatcher, Fitch raised its global GDP growth forecast on Tuesday, expecting global economic growth to drop to 2.4% this year from 2.9% last year and further slowed to 2.3% next year, according to Kingshin reports. Fitch chief economist Brian Coulton noted that signs of a slowdown in the U.S. economy and job market have been shown in hard data, with the Fed expected to cut interest rates by 25 basis points each at its September and December meetings and three more next year.