Posted by WARREN MOSLER on September 25th, 2009
Appreciate it if anyone can get me a meeting with him.
This policy is a major threat to our standard of living, and he apparently doesn’t know it:
By Rebecca Christie
September 25 (Bloomberg) – Treasury Secretary Timothy Geithner said he sees a â€œstrong consensusâ€ among Group of 20 nations to reduce reliance on exports for growth and defended the dollarâ€™s role as the worldâ€™s reserve currency.
â€œA strong dollar is very important in the United States,â€ Geithner said in response to a question at a press conference yesterday in Pittsburgh, where G-20 leaders began two days of talks.
Geithner predicted agreement on an Obama administration proposal to foster a global recovery that avoids lopsided flows of trade and investment. He said a higher U.S. savings rate this year is an â€œencouraging sign,â€ and he indicated that government support for markets will be withdrawn gradually.