US Treasury Secretary Says US Economy Is Growing

US Treasury Secretary Says US Economy Is Growing

US Treasury Secretary Jacob J. Lew said the US is growing in a strong way, and that there is “a lot to feel good about” how the economy is progressing, just days after the Fed raised interest rates for the first time in almost a decade.

While the country needs to ensure that the results of that growth are more broadly shared so that workers feel the benefits, the economy is doing well, Mr. Lew said in an interview Sunday

“Frankly, the US economy is doing quite well. We have a lot of international headwinds, and notwithstanding that, we’re staying in a very good place,” said Lew, according to a transcript provided by the network. “We’re seeing strong consumer demand, record levels of auto sales, and improvements in the housing market.”

Citing traditional independence between the central bank and the executive branch, Mr. Lew declined to comment on the decision by the Fed Wednesday to raise the target for the federal funds rate by 0.25 percentage points.

Monday, US major market indexes finished at: DJIA +123.07 at 17251.62, NAS Comp +45.84 at 4968.92, S&P 500+15.60 at 2021.15

Volume: trade was in line with recent activity, 900-M/shares changed hands on the NYSE

  • NAS Comp +4.9% YTD
  • S&P 500 -1.8% YTD
  • DJIA -3.2% YTD
  • Russell 2000 -6.1% YTD
WBR Analysis for DIA: Overall Short Intermediate Long
Neutral (-0.15) Neutral (-0.21) Neutral (-0.21) Neutral (-0.03)
WBR Analysis for SPY: Overall Short Intermediate Long
Neutral (-0.02) Neutral (-0.13) Neutral (-0.23) Bullish (0.31)
WBR Analysis for QQQ:  Overall Short Intermediate Long
Neutral (0.04) Neutral (-0.24) Neutral (0.04) Bullish (0.33)
WBR Analysis for VXX: Overall Short Intermediate Long
Bullish (0.35) Bullish (0.33) Bullish (0.40) Bullish (0.32)

Stay tuned…

Paul Ebeling

West Brook Radio

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