US Treasury Secretary warns against putting brakes on stimulus

Last Updated: Saturday, November 7, 2009 - 21:43

St Andrews: US Treasury Secretary Timothy Geithner has warned against putting the brakes on economic stimulus measures too quickly, saying that would weaken the economy.
In prepared remarks ahead of a Saturday news conference, Geithner says that "unemployment will rise, more businesses will fail, budget deficits will rise, and the ultimate cost of the crisis will be greater" if expansionary measures are stopped too soon.
Geithner says that US job numbers out Friday showed it is still "a very tough economic environment."

He says that a statement from finance officials from the Group of 20 rich and emerging countries "reflects a very broad consensus that growth remains the dominant policy imperative across our economies."

Bureau Report




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