U.S. Treasury Secretary Steven Mnuchin said although he sees a limited impact from the Trump Administration’s policies on the U.S. economy in 2017, short-term increases in the dollar reflect optimism over President Trump’s economic plan.
“The markets are up very strong since Trump’s become president. You can see both the dollar and the stock market, and I think this is a huge confidence in the Trump economic plan,” Mnuchin told the FOX Business Network’s Maria Bartiromo. “We have a great team, we’re very focused on economic growth. As I’ve talked about it before, we’re committed to getting to three percent economic growth.”
And while economic growth is its top priority, he said the administration is also focused on lowering the national debt.
“The absolute level of debt is a concern for me and a concern for the president,” he said. “The debt is a longer-term issue, not a shorter-term issue.”
Even though he would not discuss President Trump’s budget plan, he said it’s a ‘good assumption’ that Trump will boost military spending.
“The president’s priority,” he said, “is we’ve got to focus on our defense and make sure that our military has the capabilities that they need, that our borders have the capabilities that they need to protect the American citizens.”