The U.S. economy is recovering at such a sluggish pace that the Federal Reserve needs to keep an easy monetary policy in place while the government comes to grip with its debts, Reuters reported after a statement today from the International Monetary Fund (IMF).

“A credible strategy to stabilize public debt in the medium term, and a down payment on fiscal consolidation in 2011, are urgently needed,” the IMF said in its World Economic Outlook.

The global lender sees U.S. economic growth at 2.8 percent in 2011 and 2.9 percent in 2012. The 2011 rate was revised down from the IMF forecast of 3 percent growth in January, but 2012’s forecast was revised up from 2.7 percent, Reuters said.

The IMF stressed that risks to its forecast abound, including a spike in oil and commodity prices, Mideast and North African political unrest, and debt problems in Europe.

The IMF noted there still is substantial slack in the U.S. economy and it called hiring “lackluster.” It said those conditions suggest inflation will stay subdued and called for keeping interest rates low to try to spur a more vigorous recovery.

The U.S. Federal Reserve has held overnight rates near zero since December 2008 and is on course to complete a $600 billion bond-buying program by the end of June. At the same time, Congress and the White House are struggling to come to terms over a plan to curb record budget gaps.