Tag: Timothy GeithnerTimothy 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.
French President Nicolas Sarkozy and German Chancellor Angela Merkel meet on Monday in Paris the kick off for a round of talks involving European leaders, the European Central Bank (ECB) and US Treasury Secretary Timothy Geithner, culminating in Brussels on Friday with an EU summit.
Proposals to double the size of the IMF as part of a broader international response to Europe's debt crisis immediately ran into resistance from the United States and others, burying the idea for now and firmly putting the onus back on Europe.