U.S. Treasurer Secretary Lew: Annual Growth could be 3%

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.


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