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Economic Policy After the Omnibus

A Conversation with Jacob J. Lew

Speaker: Jacob J. Lew, Secretary, U.S. Department of the Treasury
Presider: John C. Bussey, Assistant Managing Editor and Executive Business Editor, Wall Street Journal
January 16, 2014

Event Description

With the 2014 omnibus budget bill nearing completion, U.S. Treasury secretary Jacob Lew outlines his economic policy priorities for the coming year with John Bussey of the Wall Street Journal. While the budget agreement will relax many of the fiscal constraints enacted under sequestration and bolster the ongoing U.S. economic recovery, Lew highlights the need for quick action on the debt ceiling as well as continued support for the long-term unemployed. Internationally, Lew discusses the progress being made in negotiations for new trade agreements with the European Union and East Asia.

Event Highlights

Jacob Lew on the pending omnibus budget bill:

"The fact is that the budget agreement, which is now being implemented through these appropriation bills, takes away some of the fiscal drag from the economy. That actually matters. Macroeconomics matter. And going from policies that push back on economic growth to creating a little bit more economic energy help."

Jacob Lew on the macroeconomic argument for extending unemployment benefits:

"All those people who are looking for work are also putting food on the table and taking care of the necessities of life, and every penny that they get, they spend."

Jacob Lew on China's continuing economic reform efforts:

"The direction of the policies that they announced in the third plenum was consistent with what they agreed to in our bilateral discussions. I think that they know that the—it's critical to the Chinese economy to let market forces drive much more, if not all, major economic policy."


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Transcript

Economic Policy After the Omnibus

Speaker: Jacob J. Lew
Presider: John C. Bussey

With the 2014 omnibus budget bill nearing completion, U.S. Treasury secretary Jacob Lew outlines his economic policy priorities for the...

Video

Economic Policy After the Omnibus

Speaker: Jacob J. Lew
Presider: John C. Bussey

With the 2014 omnibus budget bill nearing completion, U.S. Treasury secretary Jacob Lew outlines his economic policy priorities for the...

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