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Treasury Secretary Lew says economy gaining traction but still facing major challenges

Treasury Secretary Jacob Lew says the economy should grow at much stronger rates the rest of this year as the country overcomes the impact of a harsh winter.

But Lew says millions of Americans continue to struggle as unemployment remains too high and economic growth is too slow.

In a speech to the Economic Club of New York, Lew calls for actions on the part of government and the private sector to boost hiring of the long-term unemployed and increase investment in productivity-enhancing equipment and critical infrastructure projects such as roads, railways and ports.

Lew says the country also needs a stronger commitment to education in the areas of science, technology, engineering and math to make sure students have the skills they need to compete in the new economy.

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