Posted on 10/03/2009 5:52:38 PM PDT by Libloather
Geithner: World not ready for end of stimulus
G7 says growth still fragile; no mention of strong dollar
By Nick Godt, MarketWatch
Oct. 3, 2009, 3:36 p.m. EDT
NEW YORK (MarketWatch) -- The global economy is not yet strong enough to allow governments to end their fiscal and monetary stimuli to boost demand and growth, U.S. Treasury Secretary Timothy Geithner said Saturday.
"Planning for an eventual exit is the responsible and necessary thing to do, but we are not yet in the position where it would be prudent to begin to withdraw fiscal and monetary policy support," he said in a statement issued from the Group of Seven meeting in Istanbul, Turkey.
Geithner echoed a similar call by finance ministers from the G7 nations.
"Exit will not be like flipping a switch," Geithner said. "Instead, as conditions stabilize and growth strengthens, we will unwind the extraordinary policy measures we've taken, phasing them out carefully to avoid a damaging cliff."
At the G7 meeting, finance ministers and central-bank governors also vowed to keep support measures in place until recovery was assured, and to boost international financial institutions such as the International Monetary Fund, according to reports.
(Excerpt) Read more at marketwatch.com ...
Certain parts of Florida are unique cases.
Being as Timmy and all the “smart” people are “citizens of the world”, they must shake down US taxpayers to save their global brothern!
Timmay Timmay Timmayy!!!
Someone pinched the little elf and he awoke singing the same ol’ tune.
further redistribution of wealth to the upper one per cent.
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