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Kimmitt: U.S. economy in '07 to be marked by job creation, moderate inflation

Kimmitt: U.S. economy in '07 to be marked by job creation, moderate inflation

The economic outlook for the United States in 2007 is positive, U.S. Deputy Treasury Secretary Robert Kimmitt said Saturday.
In remarks made at the World Economic Forum's annual meeting, Kimmitt said economic activity had a "significant pickup" in the fourth quarter of 2006, the housing market's slump appeared benign and about to end.
He added that he expected a "solid" 2007 marked by job creation and "moderate inflation."
Kimmitt acknowledged that the U.S. had responsibilities in the global goal of reducing imbalances, in which the twin budget and trade deficits in the U.S. mirror growing surpluses in China and oil exporting nations.
The U.S. federal budget deficit is declining, he said.
That is welcome to other key participants in the global economy. Kimmitt suggested other countries could also do more to stoke demand to relieve the reliance on U.S. consumption.
"We'd certainly like to see some demand-led growth in Europe and Asia," he said. "And we'd like to see currencies flexibility in emerging markets ... especially in China."


Updated : 2021-05-19 03:04 GMT+08:00