Timothy Geithner
Timothy Geithner
Timothy Franz "Tim" Geithneris a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank of New York from 2003 to 2009, following service in the Clinton administration. He now serves as president of Warburg Pincus, a Wall Street private equity firm...
NationalityAmerican
ProfessionEconomist
Date of Birth18 August 1961
CityBrooklyn, NY
CountryUnited States of America
The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.
Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability
Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems
As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.
Monetary policy itself cannot sensibly be directed at reducing imbalances.
Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system.
The government can help, but we need to make this transition now to a recovery led by private investment, private.
The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we're prepared to make a commitment today to bring down our future deficits.
I believe deeply that it's very important to the United States, to the economic health of the United States, that we maintain a strong dollar.
The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe.
And I think it's a prudent, responsible way, given the scale of the emergency, the scale of the damage still facing America, that we finance these additional support for the unemployed as well as the support for small business. We think there's a good case for doing it now. We want to do it in an overall fiscally responsible way.
Financial crises require governments.
The plausible outcomes range from the gradual and benign to the more precipitous and damaging.