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.
More Quotes from Timothy Geithner:
Financial crises require governments.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 substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.
Timothy Geithner
I personally believe that there's going to be a good case for the government preserving some type of guarantee to make sure that people have the ability to borrow to finance a house even in a very damaging recession. I think there's going to be a good case for that.
Timothy Geithner
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.
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: World QuotesBased on Keywords: prelude, undermining
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