US Treasury Secretary Says US Leading World

The U.S. is leading the way in a global economic recovery and there should be little question about its ability to fulfill its debt obligations, Treasury Secretary Jack Lew told CNBC Asia in an exclusive interview on Wednesday.

A political crisis in Washington last month took the world’s biggest economy to the brink of a debt default, unnerving global financial markets and sparking consternation from major economies such as China and Japan, the biggest foreign holders of U.S. government bonds.

“We went through a period of some political turmoil, but I have to be clear it was a political, not economic crisis,” Lew said, referring to the wrangling over the debt ceiling and federal budget.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza