Fox Business reported the International Monetary Fund downgraded its forecast for the US economy. It now calls for growth of 2.2% this year, down from a forecast in April that called for 2.4% growth. It also said the Federal Reserve should hold off on raising interest rates. In addition, the IMF warned that declining labor force participation, falling productivity growth, a widening income gap and high levels of poverty could further hamper the US economy to expand.