June 3, 2008

US Treasury Secretary Henry Paulson said here on Thursday that the US economy would most likely be stronger at the end of 2008, even as oil prices surged to new records above 146 dollars.

“I think there is a very strong possibility that we will be growing at the end of the year. We will have stronger growth at the end of the year than we have right now,” he said during a press conference after talks with his British counterpart Alistair Darling.

Paulson and Darling had earlier discussed ongoing financial turmoil, which has largely been caused by the credit crunch and soaring oil prices.

“There’s no doubt that high headline inflation numbers as it relates to oil and food prices are a real concern to Americans,” Paulson told BBC radio on Thursday.

“My biggest focus today is on the downside risks which are housing, oil prices, and obviously what’s going on in the capital markets,” he added.

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