Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story  IMF sounds death knell over inflation, raises 2025 outlook International Monetary Fund (IMF) officials are declaring victory in the post-pandemic inflation fight and have raised projections for U.S. economic performance. © Getty The IMF sees real gross domestic product (GDP) increasing by 2.8 percent this year, up from a forecast of 2.6 percent made in July. For 2025, the IMF expects growth of 2.2 percent, up from an earlier expectation of 1.9 percent.    “In most countries, inflation is now hovering close to central bank targets,” IMF research director Pierre-Olivier Gourinchas said at a press conference Tuesday.   Gourinchas attributed easing inflation more to transitory economic factors — namely the renormalization of supply and the absorption of economic rescue measures — than to the Fed’s interest rate hikes, but said that monetary policy helped to keep price expectations anchored.   “The decline in inflation without a global recession is a major achievement,” he said. “Much of that disinflation can be attributed to the unwinding of the unique combination of supply and demand shocks that caused the inflation in the first place, together with improvements in labor supply due to immigration.”   The IMF sees the trend of lower inflation continuing, particularly with regard to production and services prices, as opposed to the more volatile commodity prices.   The international lender also warned of slower global growth in coming years, pointing to issues with the Chinese property market, demographic changes, lower cross-border investment and various fiscal policies at the national level. Wars and geopolitical instability were also a top concern.   The Hill's Tobias Burns has more here.    Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.   Did someone forward you this newsletter? Subscribe here.   Essential Reads  Key business and economic news with implications this week and beyond:   IRS unveils 2025 income tax brackets: Where do you fall? It’s official: 2025 will mark another year in which millions of Americans could take home more on each paycheck thanks in part to the latest inflation adjustments to the tax code announced by the IRS on Tuesday.  Full Story   New CFPB rules aim to boost competition in financial services The Consumer Financial Protection Bureau (CFPB) unveiled rules Tuesday intended to increase competition that would require financial institutions, credit card issuers and other financial providers to allow consumers to transfer their data to other institutions.  Full Story   Democrats knock McDonald’s over price increases A group of Democratic senators knocked McDonald’s over its price increases and its “dominant market position” as the largest fast-food chain across the country.  Full Story   McDonald’s Quarter Pounder burgers linked to E. coli outbreak McDonald’s Quarter Pounder burgers and some ingredients will be temporarily unavailable in some states to protect customers after the food was linked to an E. coli outbreak, according to a press release from the Centers for Disease Control and Prevention (CDC) on Tuesday.  Full Story   The Ticker  Upcoming news themes and events we're watching: Striking Boeing machinists vote Wednesday on a tentative agreement to end the work stoppage that has stretched since Sept. 13. Boeing holds its third-quarter earnings call at 10:30 a.m. ET.   In Other News  Branch out with more stories from the day: Starbucks reports weak quarterly results despite the arrival of Pumpkin Spice Latte season It’s been a disappointing start to Pumpkin Spice Latte season for Starbucks. The Seattle coffee giant … Full Story   Good to Know  Business and economic news we've flagged from other outlets: Trump’s ‘crazy,’ false ad claiming ‘massive layoffs’ among autoworkers (The Washington Post) Jamie Dimon Privately Supports Kamala Harris. He Just Won’t Say So. (The New York Times) How elderly dementia patients are unwittingly fueling political campaigns (CNN)   What Others are Reading  Top stories on The Hill right now: Texas sees record early-voting numbers, particularly in Democratic-leaning areas Record numbers of Texans turned out Monday for the first day of early voting — numbers that were particularly concentrated in several of the state’s blue-leaning urban and suburban counties. Read more Carville ‘doubling down’ on prediction Harris will win Veteran Democratic strategist James Carville reiterated his prediction Monday that Vice President Harris will triumph over former President Trump on Election Day, now just two weeks away. Read more   What People Think  Opinions related to business and economic issues submitted to The Hill: New EU directive puts global supply chains and sovereignty at risk  How our candidates’ trade policies could kill our Santa Claus economy     You're all caught up. 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