Comments by US Treasury secretary, Steven Mnuchin, in Riyadh
- US economy is strong, with low unemployment and low inflation
- But there is no question that global growth is slowing down
- China needs to do more on the fiscal side and regulation to maintain growth
A strong economy with strong rate cuts. Makes sense. As much as the Fed is trying to get ahead of the curve, it’ll be their own downfall if they have not enough spare capacity to cut rates further in the event of a major downturn.