US Treasury Secretary Steven Mnuchin said in an interview with Fox News Sunday that the growth momentum is a not just a “one- or two-year phenomenon”. And, he added “we definitely are in period of four or five years of sustained 3 percent growth at least”. The comments came after US Q2 GDP released on Friday showed 4.1% growth, highest since Q4 2014.
Mnuchin also said Trump’s administration “absolutely support” Fed’s independence. Regarding Trump’s attack on the Fed, Mnuchin said “these are really more just comments saying, as interest rates are going up, it’s something that the president has a concern.” He also said “we think the Fed will be very careful in managing the economy.”
Trump tweeted earlier this month that “we go up and every time you go up they want to raise rates again. I don’t really – I am not happy about it.” Vice President Mike Pence echoed such comments on Sunday that “we don’t want policies out of Capitol Hill or elsewhere that diminish the tremendous energy that we have in this economy today.”
