Ex treasury secretary Mnuchin says U.S. in recession, will continue By Reuters

Fed meeting, Exxon record, Eurozone skirts recession - what's moving markets

Ex treasury secretary Mnuchin says U.S. in recession, will continue

Economy Oct 26, 2022 03:20AM ET

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Ex treasury secretary Mnuchin says U.S. in recession, will continue

© 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.

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Comments (1)

gab nea Oct 26, 2022 4:10AM ET

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this is the guy who was grifting from the government, him and his wife for years while kissing trump's rear end!

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