Ex treasury secretary Mnuchin says U.S. in recession, will continue
Reuters
Published Oct 26, 2022 03:10AM ET
Updated Oct 26, 2022 03:20AM ET
RIYADH (Reuters) - Former U.S. treasury secretary Steve Mnuchin said on Wednesday he believed the United States was in a recession and said this would continue.
Speaking at Riyadh's flagship investment conference FII, he said: "I think we'll probably see a peak of 4.5% 10-year rates."
"I think you are going to see inflation in the U.S. begin to come under control, it will probably be a two-year period," he added.
He said the U.S. and China must learn to co-exist. He added that the Middle East's economic issues need to be dealt with regionally.
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Written By: Reuters
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