Tag: Timothy GeithnerTimothy Geithner
The former chairman of the Federal Reserve Ben Bernanke, who during eight years piloted the world’s largest economy through the worst financial and economic crisis since the Depression of last century, is now reaping the fruits of his success.
Former Italian Prime Minister Silvio Berlusconi says he was forced out of office as a result of a “plot” by European Union officials. Berlusconi made the remarks last week following the publication of a book authored by former US Treasury Secretary Timothy Geithner.
Jack Lew won the Senate Finance Committee’s approval to become US Treasury secretary and a full vote in the upper house confirmed Chuck Hagel as the next US defense secretary. The Senate approved the nomination Tuesday in a vote of 58 to 41.
US President Barack Obama on Thursday nominated his chief of staff, Jack Lew, as the next Treasury secretary, praising him as a expert on the pressing national issues of spending cuts and deficit reduction.
President Obama has reiterated his call for high earners in the US to pay more in taxes, in his first news conference since winning re-election. He called for quick legislation to rule out tax rises on the first 250.000 dollars of income, but refused to extend cuts for the wealthiest 2%.
President Barack Obama’s victory over Mitt Romney is a landmark moment in US politics. He is only the second Democratic president to win re-election since Franklin Roosevelt in 1936, doing so despite a very challenging economic headwind of sluggish growth and comparatively high unemployment in the United States.
US Treasury Secretary Timothy Geithner defended his response in 2008 to concerns that emerged over the benchmark Libor interest rate, arguing on Wednesday that US regulators pushed early and forcefully for reforms.
The United States and Spain discussed the possibility that direct loans from Europe's emergency fund could be a solution for ailing European banks, Spanish Deputy Prime Minister Soraya Saenz de Santamaria said Thursday.
Europe was pressed by other world powers to take strong measures to fix its debt-heavy economy and restore growth to a level that would lift the cloud hanging over the fragile global recovery.
Jim Yong Kim, the US nominee to lead the World Bank, will win broad international support despite an unprecedented challenge by candidates from emerging economies, US Treasury Secretary Timothy Geithner said in an interview.