The US is likely to feel the effects of sharply slowing growth elsewhere in the world, the IMF’s chief economist has said, in response to signs of a loss of momentum in a broadening range of economies.

Speaking in an interview with reporters before he retires from the Fund at the end of the year, Maurice Obstfeld said that he is not expecting a recession in the US, but he expects growth to progressively slow in 2019 and 2020 as the effect of tax cuts and spending increases diminishes.