Forex Update-Hopeful signs for USD
Sunday, April 5, 2009
Treasury Secretary Timothy Geithner Sunday adage hopeful signs for the slump hit U.S. financial system and supposed it was also early on to say if he was going to solicit Congress for more incentive money as the monetary stimulus wrap up proclaimed so far gradually makes it mark in the financial system.
In an meeting to CBS program Face the Nation, he supposed there were "hopeful signs" that the depression hit U.S. financial system is showing signs of upturn the forex market but said that growth in the direction of correcting the financial system is not going to be smooth. "We're going to have fits and starts. There will be an era where it feels very bad and uncertain" but we need to keep acting as forcefully as we can to get banks lending again, he said.
Amongst the "hopeful signs" he saw, Geithner pointed to advance interest rates, which, he said, are now at their lowest point in the past enabling millions of Americans to refinance their homes, and take benefits of lesser interest rates. That's hard cash in the hands of the people, and that's very influential, he said.
Geithner's consultation came soon after the House of Representatives voted 247-171 Wednesday to provide the Treasury Department the authority to confine bonuses and recompense at companies receiving Federal Reserve post security money.
In an meeting to CBS program Face the Nation, he supposed there were "hopeful signs" that the depression hit U.S. financial system is showing signs of upturn the forex market but said that growth in the direction of correcting the financial system is not going to be smooth. "We're going to have fits and starts. There will be an era where it feels very bad and uncertain" but we need to keep acting as forcefully as we can to get banks lending again, he said.
Amongst the "hopeful signs" he saw, Geithner pointed to advance interest rates, which, he said, are now at their lowest point in the past enabling millions of Americans to refinance their homes, and take benefits of lesser interest rates. That's hard cash in the hands of the people, and that's very influential, he said.
Geithner's consultation came soon after the House of Representatives voted 247-171 Wednesday to provide the Treasury Department the authority to confine bonuses and recompense at companies receiving Federal Reserve post security money.
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