The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.
More Quotes from Timothy Geithner:
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.Timothy Geithner
Most consequential choices involve shades of gray, and some fog is often useful in getting things done.
Timothy Geithner
The plausible outcomes range from the gradual and benign to the more precipitous and damaging.
Timothy Geithner
This crisis exposed very significant problems in the financial systems of the United States and some other major economies. Innovation got too far out in front of the knowledge of risk.
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We will not support returning Fannie and Freddie to the role they played before conservatorship, where they fought to take market share from private competitors while enjoying the privilege of government support.
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Monetary policy itself cannot sensibly be directed at reducing imbalances.
Timothy Geithner
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