The US economy is the brightest point in the world, no sign of recession

According to the Secretary of the Treasury, Steven Mnuchin, there is no indication that the US economy is heading for a recession.

Addressing CNBC on Sunday, the US official has expressed only optimism about the state of his country's economy. This badysis comes despite a May employment figure significantly below expectations and rising expectations that the Federal Reserve may choose to reduce interest rates several times this year.

"US growth is still the bright spot in the world," Mnuchin told CNBC's Nancy Hungerford.

"In terms of employment figures, I will not focus on one particular figure: there is a lot of volatility in these numbers," he added. "We still believe that growth in the United States is really strong."

In fact, the treasury secretary said his concerns were about the economic slowdown across the US borders. "We are somewhat concerned about what we see as a slowdown in Europe, China and other parts of the world," he said.

And, while markets may predict that the US central bank will begin some easing, Mnuchin suggested that this does not bode any economic downturn.

"I do not see any sign of a recession, I would say that the bond markets are predicting … a decline in interest rates.We live in an environment where global interest rates are very low in the world, so I think you see in the US bond markets, "he said. "No, we do not see any sign of a recession, we see another strong quarter in the United States."

Mnuchin refused, citing the principle of central bank independence, to say whether he felt that if the state of the US economy deserved a reduction in interest rates from the Fed.