LONDON, July 16 - U.S. Treasury Secretary John Snow repeated on Wednesday that the United States backs a strong dollar and said the American economy was poised for stronger growth ahead. Speaking to reporters at the U.S. embassy, Snow was pressed to say whether there had been any shift in U.S. dollar policy and denied it was so. "The policy is we have a strong dollar policy. We believe in a strong dollar," Snow said.
The U.S. Treasury chief, in London for visits with top British economic officials before travelling to Germany on Thursday and Friday, said U.S. economic prospects were brightening. "It seems to me we are on a path to have the (U.S.) economy perform much better in the months ahead with unemployment coming down over time but perhaps even rising for a month or two." Snow said. He said U.S. economic growth should accelerate to a pace of over four percent a year in 2004 after gaining steam in the second half of this year.//