Geithner: Growth Ahead, But Big Risks, Too
Treasury Secretary Tim Geithner said in London today that he expects the world's major economies will start growing again in coming quarters, but "there are still significant risks and challenges ahead," he said, Reuters reports.
"We have a very powerful set of policies in place, coming on stream. I think there is a very good chance we will see the U.S. economy and the world economy get back to recovery, get growing again, over the next few quarters," Geithner said.
Geithner spoke after talks with the British finance minister and will also travel to the Middle East and Paris.
Now that the March stock market rally is over -- the 35 percent surge ended in early June when the markets began sliding sideways and then declining -- concerns are rising over what economists call a "double-dip" recession. In other words, the economy stalls in recover, then heads back down into recession.
Regardless, the U.S. is now in the 19th month of what many are calling the Great Recession, which is the longest since the 1980s.
Those "green shoots" we heard so much about back in late spring? Crushed under the marching black boots of ongoing recession, which trudges by like a grim May Day parade in the old Soviet Union.
July 13, 2009; 11:04 AM ET
Categories: The Ticker | Tags: Tim Geithner, recession
Save & Share: Previous: Markets Open Mixed
Next: Home Price Expert Shiller: Housing Industry Still 'Abysmal'
Posted by: 4thFloor | July 13, 2009 3:18 PM | Report abuse
Posted by: ZippyinAnnapolis | July 13, 2009 7:20 PM | Report abuse
The comments to this entry are closed.