Geithner: Too soon to decide on more stimulus
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)
© Thomson Reuters 2009 All rights reserved
The Wall's economic legacy
Twenty years after the fall of the Berlin Wall, much of the East German economy has cast off the shackles of its Communist past. But some of the changes have come at a price. Full Article | Full Coverage
Pelosi says health bill will pass.