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.”

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