Ex treasury secretary Mnuchin says U.S. in recession, will continue
2022.10.26 05:28
© Reuters. FILE PHOTO: U.S. Treasury Secretary Steve Mnuchin testifies before a House Financial Services Committee at a hearing on oversight of the Treasury Department’s and Federal Reserve’s coronavirus disease (COVID-19) pandemic response on Capitol Hill in Washin
RIYADH (Reuters) – Former U.S. treasury secretary Steve Mnuchin said on Wednesday he believed the United States was in a recession and said this would continue.
Speaking at Riyadh’s flagship investment conference FII, he said: “I think we’ll probably see a peak of 4.5% 10-year rates.”
“I think you are going to see inflation in the U.S. begin to come under control, it will probably be a two-year period,” he added.
He said the U.S. and China must learn to co-exist. He added that the Middle East’s economic issues need to be dealt with regionally.
