Jack Lew Is Feeling Pretty Confident

Author:
Updated:
Original:

Sure, his boss just received quite the beating at the hands of the voters, in no small part because people still think the economy sucks (at least they did until after Election Day, anyway). The Treasury Secretary knows better: He’s done a hell of a job fixing the U.S. economy and, with it, the world economy. But you know what? He’s pretty goddamned sick of doing it all by himself, and he doesn’t care if Angela Merkel and Shinzo Abe and François Hollande know it.

“It is time for the G-20 to act once again with a sense of urgency,” he said.

Mr. Lew pointed to the U.S. strategy as a model for other governments. “A sustained recovery with solid growth requires a comprehensive approach that marshals all levers of economic policy—monetary, fiscal, and structural,” he said….

“Resolute action by national authorities and other European bodies is needed to reduce the risk that the region could fall into a deeper slump,” he said. “The world cannot afford a European lost decade….”

“The jury’s still out” on whether Prime Minister Shinzo Abe ’s strategy to restructure the economy “is sufficient to transform Japan’s economy,” Mr. Lew said.

U.S. Treasury Secretary Warns Europe Risks ‘Lost Decade’ of Economic Growth [WSJ]

Related