The crisis in Greece and the decline in China's stock market need to be watched carefully but neither represent an immediate threat to the U.S. economy, Treasury Secretary Jacob Lew said Wednesday. In an appearance at the Brookings Institution, Lew said he was convinced that Greece and its creditors could reach a deal but said it would be tough to achieve politically. Lew said that China's stock market was still separated from world markets and the biggest worry for the U.S. was if the turmoil caused the country's leaders to "slam the brakes" on needed economic reform.
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