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Former U.S. Treasury Secretary Steve Mnuchin said he believes the U.S. economy is already in recession and will continue.
Speaking at the investment conference held in Saudi Arabia, former US Treasury Secretary Steve Mnuchin also stated that he thinks a 4.5 percent peak will be seen in the 10-year Treasury paper yield.
In his speech, Mnuchin stated that inflation will be seen to be brought under control in the USA and emphasized that he thinks that inflation will be brought under control within a two-year period.
Mnuchin also argued that the USA and China should learn to co-exist, and that the economic issues of the Middle East should be resolved regionally.
