Tags: mnuchin | stocks | economic | growth

Mnuchin 'Very Bullish' on Stocks, Sees Economic Growth Over 3 Percent

By    |   Monday, 21 May 2018 06:11 PM

Treasury Secretary Steven Mnuchin predicts that American gross domestic product will expand by at least 3 percent growth later this year.

"We are well on our way to 3 percent or higher sustained growth," he told CNBC.

"That's really been the focus. That's what everyone should be focused on. That's our scorecard," he said.

Mnuchin also said he is "very bullish on stocks" while touting the economy’s strength.

"There have obviously been various different world events and things that have created some volatility," he said. "But the stock is up an enormous amount since the election," he said.

Since the 2016 election, as of Friday's close, the Dow Jones industrial average was up more than 34 percent; the S&P 500 was up more than 26 percent; the Nasdaq was up more than 41 percent, CNBC.com explained.

Meanwhile, he touted economic growth accomplished since President Trump took office.

"We've made very meaningful progress," he said. "You combine this with tax cuts, and I think we're looking at very strong GDP growth for the rest of the year," he predicted.

For his part, President Trump has turned to Twitter to tout his administration's accomplishments.

"Despite the disgusting, illegal and unwarranted Witch Hunt, we have had the most successful first 17 month Administration in U.S. history - by far! Sorry to the Fake News Media and “Haters,” but that’s the way it is!" Trump recently tweeted.

(Newsmax wire services contributed to this report).

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Treasury Secretary Steven Mnuchin predicts that American gross domestic product will expand by at least 3 percent growth later this year.
mnuchin, stocks, economic, growth
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2018-11-21
Monday, 21 May 2018 06:11 PM
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