According to TechFlame, Fitch raised its global GDP growth forecast on Tuesday. It is expected that the global economic growth rate will drop to 2.4 percent this year from 2.9 percent last year, and will slow further to 2.3 percent next year. Brian Coulton, chief economist at Fitch, pointed out that the signs of a slowdown in the US economy and job market are already evident in hard data. It is expected that the Federal Reserve will cut interest rates by 25 basis points each at the September and December meetings, and will cut interest rates three more times next year.