U.S.

Treasury Secretary defends US economy amid market volatility

U.S. Treasury Secretary Steven Mnuchin addressed a shaky world economic market following Monday’s staggering drop in American stock value.

Despite the largest ever single-day loss in terms of total points and the steepest overall dip since 2011, he pointed to evidence he presented as proof of a strong economy.

“I’m not overly concerned about the market volatility,” he said Tuesday in a statement to legislators.

He also noted the market had begun to tick back upward as of the time he was delivering his remarks.

“I think the fundamentals are quite strong,” he said of the nation’s economy.

Mnuchin also addressed critics who say President Donald Trump and his administration have taken too much credit for the stock market’s rise.

He said “we’ll still claim credit that it’s up more than 30 percent since the election.”

Enter your email address below to join our brand new email news brief, Worth Your Attention!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s