Mnuchin: Expect 3 Percent Growth for Next 4 Years

Image: Mnuchin: Expect 3 Percent Growth for Next 4 Years
The surge in the U.S. economy in the second quarter shows the U.S. is “well on the path” for four or five years of sustained annual growth of 3 percent, said Treasury Secretary Stephen Mnuchin.“We can only project a couple years in the future, but I think we’re well on this path for several years,” Mnuchin said on “Fox News Sunday.”
The U.S. economy accelerated in the second quarter to the fastest pace since 2014, the government reported on Friday, allowing President Donald Trump to celebrate his economic policies, including the biggest tax overhaul since the Reagan era. Mnuchin also said that Trump respects the independence of the Federal Reserve, despite the president’s recent criticism of the central bank for raising interest rates. In fact, Mnuchin said it was responsible for the Fed to raise rates as the economy grows faster and inflation rises.