Geithner: Too soon to withdraw economic stimulus
U.S. Treasury Secretary Timothy Geithner said on Saturday it was too early to start withdrawing stimulus for the world’s top economies, but governments should pledge a return to more sustainable fiscal policies in the future.
“Growth should remain the principal focus of policy among the G8 and broader G20 economies,” Geithner told a news conference after finance ministers from the Group of Eight economies finished a two-day meeting here.
He said recovery has not yet arrived, and governments need to keep reinforcing recent improvements in global demand.
“It is too early to shift toward policy restraint,” Geithner said. “Economic and financial recovery, however, will be stronger and more sustainable if we make clear today how we get back to fiscal sustainability when the storm has fully passed.”
Harold
