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U.S. Treasury Secretary Says Economy Still Facing Major Challenges

Associated Press (06/11/14)

Speaking at the Economic Club of New York, U.S. Treasury Secretary Jacob Lew said the U.S. economy should grow at a stronger rate for the rest of 2014, though he cautioned that millions of Americans continue to struggle with high unemployment and slow economic growth. He called on the government and the private sector to bolster hiring of the long-term unemployed and increase investment in productivity-enhancing equipment and critical infrastructure projects. “Evidence continues to mount that our economy is gaining traction,” Lew said.