Commerce Secretary Howard Lutnick speaks during the World Economic Forum (WEF) annual meeting in Davos, Switzerland, on Jan. 20, 2026. Fabrice Coffrini/AFP/Getty Images
Commerce Secretary Howard Lutnick said on Jan. 20 that he expects the U.S. economy to expand at an annual rate of more than 5 percent in the first quarter of 2026, saying that interest rates are too high and that lower borrowing costs could push growth to more than 6 percent.
During a panel discussion at the World Economic Forum (WEF) in Davos, Switzerland, Lutnick framed his growth outlook as part of a broader America First economic strategy that he said would prioritize domestic workers, rebuild industrial capacity, and reduce U.S. reliance on foreign supply chains for critical goods such as semiconductors and medicines.
