Data on US GDP growth pointed to growth at the annualized rate of 4.1% in the second quarter of 2018


 US: Fed to meet on Tuesday and Wednesday (Carlo Allegri / Reuters)
São Paulo - US Treasury Secretary Steven Mnuchin said on Sunday that the US economy's fastest pace of growth is sustainable and should continue for years to come.
"I do not think this is a phenomenon of one or two years, I think we are definitely in a period of four or five years of sustainable growth of at least 3%," Fox News said in an interview.
Last Friday (27), data on the growth of the Gross Domestic Product (GDP) of the United States were announced, which pointed to growth at the annualized rate of 4.1% in the second quarter of 2018, at the strongest pace in almost four years.
The advance was driven by the recovery in consumer spending, exports and corporate investment.
Economists estimate that the number of the second quarter would be a peak. In addition, they point out that the Federal Reserve has lower growth projections, both for this year and for the coming years.
But Mnuchin said that last year the market projected a growth of 2% in 2018 and the government had already forecasted a 3% expansion. "We are starting to see projections up, our projection of 10 years is 3% and we are comfortable, we are reaching those numbers," he said.
The US Treasury Secretary was also asked about President Donald Trump's recent inquiries into the Fed's flagrant rise in interest rates, which sounded a warning signal among observers about the independence of the central bank. For Mnuchin, Trump's statements were "only comments" indicating that the "president has a concern". According to him, the US president "absolutely" supports the Fed's independence. "We, as an administration, support the independence of the Fed, and the president has made it clear that this is the Fed's decision."
Mnuchin said it is the Fed's responsibility to raise interest rates as the economy grows faster. "The market expects interest rates to continue to rise. The only question is how much and for how long? We think the Fed will be very careful in managing the economy, "he said.
The Fed will meet Tuesday and Wednesday. Rates have increased twice this year in
response to strong growth in the US economy, low unemployment and a slight rise in inflation.

US secretary says he believes growth of 3% for 5 years

Data on US GDP growth pointed to growth at the annualized rate of 4.1% in the second quarter of 2018


 US: Fed to meet on Tuesday and Wednesday (Carlo Allegri / Reuters)
São Paulo - US Treasury Secretary Steven Mnuchin said on Sunday that the US economy's fastest pace of growth is sustainable and should continue for years to come.
"I do not think this is a phenomenon of one or two years, I think we are definitely in a period of four or five years of sustainable growth of at least 3%," Fox News said in an interview.
Last Friday (27), data on the growth of the Gross Domestic Product (GDP) of the United States were announced, which pointed to growth at the annualized rate of 4.1% in the second quarter of 2018, at the strongest pace in almost four years.
The advance was driven by the recovery in consumer spending, exports and corporate investment.
Economists estimate that the number of the second quarter would be a peak. In addition, they point out that the Federal Reserve has lower growth projections, both for this year and for the coming years.
But Mnuchin said that last year the market projected a growth of 2% in 2018 and the government had already forecasted a 3% expansion. "We are starting to see projections up, our projection of 10 years is 3% and we are comfortable, we are reaching those numbers," he said.
The US Treasury Secretary was also asked about President Donald Trump's recent inquiries into the Fed's flagrant rise in interest rates, which sounded a warning signal among observers about the independence of the central bank. For Mnuchin, Trump's statements were "only comments" indicating that the "president has a concern". According to him, the US president "absolutely" supports the Fed's independence. "We, as an administration, support the independence of the Fed, and the president has made it clear that this is the Fed's decision."
Mnuchin said it is the Fed's responsibility to raise interest rates as the economy grows faster. "The market expects interest rates to continue to rise. The only question is how much and for how long? We think the Fed will be very careful in managing the economy, "he said.
The Fed will meet Tuesday and Wednesday. Rates have increased twice this year in
response to strong growth in the US economy, low unemployment and a slight rise in inflation.

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