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.
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