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Treasury's Snow predicts jobs with revived growth


Tuesday February 17, 11:10 am ET

SPOKANE, Wash., Feb 17 (Reuters) - U.S. Treasury Secretary John Snow said on Tuesday that the U.S. economy was on a path toward rapid recovery that should soon produce more jobs, and repeated his backing for a strong U.S. dollar.

Interviewed by Bloomberg Television at the beginning of a two-day tour of northwestern states Washington and Oregon, Snow said the economy had endured a series of exceptional shocks in recent years, ranging from corporate scandals to the impact of terror attacks.

"The economy has really been through the wringer and we're finally starting to come out of it with good growth," Snow said. "With good growth, we're going to get jobs."

In response to questions, Snow repeated his backing for a strong U.S. dollar, despite the fact that the dollar has declined sharply against other major currencies.

"We believe in a strong dollar," Snow said. "But the best way to set the relative value of currencies is open, competitive currency markets, with interventions kept to a minimum."

"That's our policy," he added. "That's the right policy."

 

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