Timothy Geithner
Timothy Geithner
Timothy Franz "Tim" Geithneris a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank of New York from 2003 to 2009, following service in the Clinton administration. He now serves as president of Warburg Pincus, a Wall Street private equity firm...
NationalityAmerican
ProfessionEconomist
Date of Birth18 August 1961
CityBrooklyn, NY
CountryUnited States of America
achieve act adjust affected countries demand effects equal future impact monetary offset order path policy
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.
adjust assessment asset bank central confident mean means move movement observed output policy prepared prices responding witnessed
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.
fog choices done
Most consequential choices involve shades of gray, and some fog is often useful in getting things done
senior cutting class
If you don't try to generate more revenues through tax reform, if you don't ask, you know, the most fortunate Americans to bear a slightly larger burden of the privilege of being an American, then you have to - the only way to achieve fiscal sustainability is through unacceptably deep cuts in benefits for middle class seniors, or unacceptably deep cuts in national security.
country strong independent
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.
outcomes benign range
The plausible outcomes range from the gradual and benign to the more precipitous and damaging.
recovery government needs
The government can help, but we need to make this transition now to a recovery led by private investment, private.
imbalance reducing policy
Monetary policy itself cannot sensibly be directed at reducing imbalances.
usual typical fierce
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.
ability believe borrow case damaging finance good government guarantee house people personally preserving sure type
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.
enjoying fought government market played private privilege returning role share support
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.
acute although bear broader built contain crisis current factors forces global responsibility share united ways
Although this crisis in some ways started in the United States, it is a global crisis. We bear a substantial share of the responsibility for what has happened, but factors that made the crisis so acute and so difficult to contain lie in a broader set of global forces that built up in the years before the start of our current troubles.
businesses companies core determined goes investors largest people reforms savings sure system taking
But what we're determined to do, and what the reforms will do is to make sure this system goes back to its core purpose of taking the savings of Americans and from investors around the world and allocating those to people with an idea, not just the largest companies in the country, but to small businesses with an idea and a plan for growing.
access bear broader brought companies consequences credit downward equity failure further home judged less lower pressure severe system
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.