Mnuchin Says Reaching 3% U.S. Economic Growth May Take Two Years

Treasury Secretary Steven Mnuchin said an overhaul of the tax system, regulatory reform and better trade deals will help produce 3 percent U.S. economic growth within two years.

Returning health in the U.S. job market, a 12 percent rise in stock prices since Trump’s election and consumer sentiment at the highest in 16 years are painting an optimistic picture of the economy. Even so, the economy expanded at its slowest pace in three years at 0.7 percent in the first quarter-- underlining the challenges of an administration aiming for 3 percent or higher annual growth.