US Treasury Secretary: Economy Strong, Stock Drop a 'Natural Correction'

by Naharnet Newsdesk 12 October 2018, 14:43

Treasury Secretary Steven Mnuchin said Friday the US economy remains strong, and the recent decline in the stock market was "just a natural correction."

After two days of sharp declines in US and global stock markets over fears of rising interest rates and the US trade conflicts, Mnuchin said in an interview on CNBC that markets "tend to go too far in both directions" and will have natural corrections.

But he said it was a "good thing" that Wall Street as poised to recover on Friday.

Source: Agence France Presse

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