US Treasury secretary: Economy strong, stock drop a 'natural correction'

After two days of sharp declines in US and global stock markets over fears of rising interest rates and the US trade conflicts, Mnuchin said in an interview on CNBC that markets "tend to go too far in both directions" and will have natural corrections. Trump said the Fed had "gone crazy" and was being "too aggressive in raising rates," blaming the institution for the market declines that saw the benchmark Dow Jones Industrial Average lose nearly 1,400 points in two days.

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