NEW YORK (TheStreet) -- U.S. Treasury Secretary Jack Lew appeared on BloombergTV's "Bloomberg Go" on Thursday morning and gave a lengthy interview on a variety of topics relating to the U.S. economy. One issue Lew discussed was the price of commodities and yesterday's announcement about an OPEC production cap deal.
"I think that the thing about commodity prices is they go up and they go down," Lew told Bloomberg's David Gura. "Economies have to be able to weather the fluctuation in commodity prices."
Considering economies around the world, Lew pointed out that economies that are well managed will be able to benefit and grow when commodity prices are strong and should be able to show resilience when things turn negative.
"I am quite confident about the U.S. economy. I'm actually quite confident about the future of energy development in the U.S. economy," Lew continued. "It's really a question of when resources are developed, not whether they're developed."
Lew sees sustained growth in the U.S. and is expecting this to continue.
Oil prices are trading in positive territory this morning.