The U.S. economy is off to such a good start in 2014 that annual growth could hit 3% for the first time since 2005, Treasury Secretary Jack Lew said Thursday. “We have a good first quarter underway, I believe,” Lew said at the World Economic Forum in Davos, Switzerland.
Lew was reluctant to make a specific prediction about the rate of expansion this year, but said there were reasons to believe growth in the world’s biggest economy would “break through 3%.”
He believes that, freed from last year’s drag of tax rises and spending cuts, and with business confidence strong, the economy should accelerate sharply from last year.
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.