Geithner: Too soon to decide on more stimulus

U.S. Treasury Secretary Timothy Geithner testifies before a joint hearing of the House Agriculture and Financial Services committees on the administration's proposal to regulate the over-the-counter derivatives market on Capitol Hill in Washington July 10, 2009. REUTERS/Kevin Lamarque

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