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Geithner: Too soon to decide on more stimulus
1 of 2. U.S. Treasury Secretary Timothy Geithner convenes the President's Working Group on Financial Markets at the Treasury Department in Washington June 25, 2009.
Credit: Reuters/Jose Luis Magana
WASHINGTON |
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said it was too soon to decide whether the U.S. economy would need the help of a second round of government stimulus to recover from recession.
"I don't think that's a judgment we need to make now, can't really make it now prudently, responsibly," Geithner said in a taped interview with CNN that will air on Sunday.
According to a transcript provided by CNN, Geithner said the "biggest thrust" of the $787 billion package of spending and tax cuts signed into law earlier this year would take effect in the second half of the year.
He also said a program that is setting up public-private partnerships to buy up toxic assets held by banks would likely see less use than had been expected a few months ago because the financial system had begun to stabilize.
(Reporting by Tim Ahmann; Editing by Doina Chiacu)
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