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.
More Quotes from Timothy Geithner:
We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households.Timothy Geithner
I think we're not going to preserve Fannie and Freddie in anything like their current form. We're going to have to bring fundamental change to that market.
Timothy Geithner
And if all else were equal ... monetary policy in the affected countries would have to adjust in response policy would have to act to offset these effects in order to achieve the same impact on the future path of demand and inflation.
Timothy Geithner
When policy-makers have already witnessed a significant move in asset values, and are confident in what that move means for the outlook, it should be prepared to adjust policy accordingly. The central bank must be responding to its assessment of what an already observed movement in asset prices will mean for output and inflation.
Timothy Geithner
The choice is between which mistake is easier to correct: underdoing it or overdoing it.
Timothy Geithner
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Based on Topics: Economics Quotes, World QuotesBased on Keywords: confluence, turmoil
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