YOUNGSTOWN, Ohio (WKBN) – U.S. Commerce Secretary Penny Pritzker spent Thursday morning in downtown Youngstown. She toured the America Makes Institute on West Boardman Street.
Pritzker says projects like that are part of the reason the U.S. economy is able to withstand the ups and downs of the stock market. As for America Makes, she says, “Fully one third of our economic growth comes from innovation.”
We asked Pritzker about her reaction to the market fluctuation this week. She says that it’s important to remember the stock market isn’t always a good reflection of the economy as a whole.
“We have to separate the stock market from the day to day actions of our economy, and what’s going on on the ground”, says Pritzker. “What’s going on on the ground is enormous amounts of innovation, production and creativity. We have to not get overly concerned with stock market gyrations, and instead focus on the fundamentals of our economy and focus on investing so our economy remains globally competitive.”
Pritzker says manufacturing is strong and job growth is promising. She also cites the digital economy as a big boon for the U.S.
She says, “What I see and what I’m focused on day in and day out is what’s going on with American businesses large and small. And we’re seeing growth in those businesses.”