-Jacob Lew, Treasury Secretary
Treasury Secretary Jacob Lew compared the US economy with a "well-oiled machine", as the American economy managed to lead the world out of the Great Recession thanks to a bold fiscal and monetary response to the turmoil. Lew also gave positive assessment of the US economic health.
While some economists shared optimism about the world's number one economy following Friday's employment data, a number of ordinary Americans appeared to disagree. Gallup's US Economic Confidence Index came in at –3 for the week ended March 8, marking the third straight negative reading following an eight-week streak of positive figures. The index averages Americans' assessment of current economic conditions and their view as to whether the economic conditions are improving or deteriorating. On the index, the gauge can potentially reach its theoretical maximum of +100, if all Americans say the nation's economy is excellent or robust and getting better; or can fall to a theoretical minimum of -100, if all Americans say the economy is poor and getting worse. The negative reading came after last week's data showed the US unemployment rate dropped to 5.5%, reaching an almost seven-year low, while non-farm payrolls jumped 295,000, marking the 12th consecutive month of gains of above 200,000.
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