US Treasury Secretary: Pace of US economic recovery too slow

FXStreet (Barcelona) - In a speech delivered before the New York Economic Club US Treasury Secretary Jack Lew said that the US economy was improving but that the pace of economic growth was still unsatisfactory and that unemployment remained excessively elevated.

"The ultimate test for all of us will be how inclusive tomorrow’s economy becomes and how widely our economic gains flow," he said. "The crisis we face today is the need to make sure the economy is expanding fast enough to support a growing middle class."

Lew urged employers to give long-term unemployed a fair chance. Furthermore, he stressed the need for an increase in infrastructure spending and for an overhaul of the tax code.