October 30, 2019 / 8:53 AM / 3 months ago

Global growth slowing, modest drag on U.S.: Treasury's Mnuchin

FILE PHOTO: Secretary of the Treasury Steven Mnuchin in Washington, U.S., September 12, 2019. REUTERS/Sarah Silbiger.

RIYADH (Reuters) - Global growth is slowing and has modestly impacted the United States, U.S. Treasury Secretary Steven Mnuchin said on Wednesday, adding the U.S. economy remained strong with good capital inflows.

“There is no question that the global economy is slowing down and that has had some modest drag on the U.S. economy,” he said at an investment conference in the Saudi capital Riyadh.

Mnuchin also said Europe needed to do more on the fiscal and regulatory side to maintain growth.

Reporting by David Lawder and Stephen Kalin; Writing by Tuqa Khalid; editing by John Stonestreet

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