Timothy Geithner quotes
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“Most consequential choices involve shades of gray, and some fog is often useful in getting things done”
-- Timothy Geithner -
“There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.”
-- Timothy Geithner -
“The choice is between which mistake is easier to correct: underdoing it or overdoing it.”
-- 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 GeithnerSource : "Geithner's Speech to the Economic Club of Washington" by Timothy Geithner, www.realclearpolitics.com. April 22, 2009.
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“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.”
-- Timothy GeithnerSource : "Interview with Treasury Secretary Timothy Geithner on "Meet the Press"". www.realclearpolitics.com. July 25, 2010.
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“The plausible outcomes range from the gradual and benign to the more precipitous and damaging.”
-- Timothy Geithner -
“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.”
-- Timothy GeithnerSource : "Meet the Press" with David Gregory, www.nbcnews.com. December 12, 2010.
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“We have parts of our system which are overwhelmed by regulation. It wasn't the absence of regulation that was the problem. It was despite the presence of regulation you got huge risks built up.”
-- Timothy GeithnerSource : Timothy Geithner's speech at the House Financial Services Committee, March 26, 2009.
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“Hyperinflation is not going to happen in this country, will never happen... The Fed putting so much money into the system is not going to create the risk of hyperinflation in the future. We have a strong independent Federal Reserve with a very strong mandate from the Congress, and they will do what's necessary to keep inflation low and stable over time.”
-- Timothy GeithnerSource : "This Week" with George Stephanopoulos, abcnews.go.com. March 29, 2009.
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“We believe in a strong dollar ... Chinese financial assets are very safe.”
-- Timothy Geithner -
“The government can help, but we need to make this transition now to a recovery led by private investment, private.”
-- Timothy GeithnerSource : "Meet the Press" with David Gregory, www.nbcnews.com. July 25, 2010.
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“The recognition that things that are not sustainable will eventually come to an end does not give us much of a guide to whether the transition will be calm or exciting.”
-- Timothy Geithner -
“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.”
-- Timothy Geithner -
“Monetary policy itself cannot sensibly be directed at reducing imbalances.”
-- Timothy Geithner -
“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.”
-- Timothy Geithner -
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“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”
-- Timothy Geithner -
“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”
-- Timothy GeithnerSource : "Geithner's Speech to the Economic Club of Washington" by Timothy Geithner, www.realclearpolitics.com. April 22, 2009.
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“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”
-- 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 -
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“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 -
“This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize.”
-- Timothy GeithnerSource : "Geithner's Speech to the Economic Club of Washington" by Timothy Geithner, www.realclearpolitics.com. April 22, 2009.
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“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.”
-- Timothy GeithnerSource : "Geithner: We Care About A Strong Dollar, Really" by Joe Weisenthal, www.businessinsider.com. November 11, 2009.
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