Steven Mnuchin predicts global economic boom in next 18 months

• Published date: 13 October 2021
• Author: TOVAH LAZAROFF
• Publication title: Jerusalem Post, The: Web Edition Articles (Israel)

"The economic boom for the next 18 months is going to be extraordinary," he told Jerusalem Report editor-in-chief Steve Linde at the Jerusalem Post Conference in Jerusalem.

"I do worry about inflation in the US and inflation around the world," he added. "Obviously, we will have to normalize interest rates, but there has been tremendous business innovation; it has been one of the few good things that has come out of COVID."

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Mnuchin reflected on the extraordinary experience of sitting at the head of the US Treasury during the start of the COVID-19 crisis.

"Anyone who has ever run a business never contemplated that the downside was zero revenues," he said.

Mnuchin recalled how the US had spent close to $4 trillion to help the economy. In so doing, the former Trump administration in which he served had prevented a global depression, he said.

Mnuchin also reflected on the Abraham Accords brokered by former US president Donald Trump, under whose auspices Israel normalized ties with four Muslim countries: the United Arab Emirates, Bahrain, Morocco and Sudan.

Economic partnership was an...