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IMF: US plunge from fiscal cliff would hit global economy hard

Political infighting over the "fiscal cliff" threatens to wipe out the US's fragile recovery with "very bad" consequences for the rest of the world, a senior International Monetary Fund economist warned Thursday.

Updating its annual report on the US economy, the IMF said the recovery remained "tepid", and risks to that recovery had intensified, "including from the worsening of the euro area debt crisis as well as the uncertainty over domestic fiscal plans."