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 Lew: No Time For Complacency On Global Economy

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Join date : 2011-08-09

PostSubject: Lew: No Time For Complacency On Global Economy   Fri Apr 11, 2014 12:00 pm

Lew: No Time For Complacency On Global Economy
By Greg Robb
Published April 11, 2014
MarketWatch Pulse

WASHINGTON – Major economies of the world cannot rest on their laurels even though the global economy is expected to strengthen this year, Treasury Secretary Jacob Lew said Friday. "This is no time for complacency, and we must not succumb to accepting subpar growth and high unemployment rates," Lew said in a speech at the International Monetary Fund spring meeting. Lew said the Obama administration was "deeply disappointed" that Congress failed to pass IMF reforms, but said he saw bipartisan support for the measure. Lew repeated that more needs to be done in the euro area to guard against deflation. On China, Lew said that the yuan must appreciate further "so that consumption, rather than investment, drives domestic demand."

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