Former Treasury Secretary Steven Mnucin said Wednesday he believed that people suffered a little “at the moment of Trump.
Mnucin, who served in the President Donald TrumpCabinet during the first term of the Republican office, told CNBC’s “Squawk Box“That he did not see the signs of an imminent slowdown for the US economy.
“I don’t think we have a shrinkage. I don’t think it looks like we shrink. And Larry Summers say that there is a 50% possibility,” Mnucin says I just agree with New commentary from another former head of the Treasury.
The first few months in Trump’s second term was marked by the rising tensions of trading between the US and the main trade partners in Canada, Mexico and China. The White House repeatedly announced and then rolled back tariffs. The Federal government also put jobs. The factors caused to contribute new decreases in the assumption of consumer and small business owners.
The Federal Reserve Bank in Atlanta’s Gdpnow Tracker Now the US economy control projects in the first quarter. However, that projection is a higher relative to most Wall Street economists who generally predict moderate growth.
Mnucin also mentions the recent partition of the stock market, which teaches that the declarations from the upper level. On Tuesday, the S & P 500 closed 9.4% below the recording above it, and the tech-heavy Nasdaq Composite closed 13.7% of high-water mark.
“I don’t think anyone needs to look at a natural, healthy correcting of indices as indicates that the lack of economics,” he said.
Mnucin, a former Goldman Sachs Executive, is widely seen as a continuous presence of the first Trump administration and one of the principal economic architectures in Covid-19 covid.
He said Wednesday that he did not focus on the daily stock market when he was leading the Treasury Department but considered them a good “barometer” long term. Trump said in the present days he ignored the stock market.
Since leaving office, Mnucin runs on investment firm Liberty Strategic capital.
