Word: geithner
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Moynihan has also made a concerted effort to connect with regulators. Most characterize his predecessor Lewis as indifferent when it came to politicians and policymakers. But Moynihan has prioritized Washington relations, meeting frequently with regulators. Treasury Secretary Timothy Geithner and Moynihan have met three times in so many months. Says one Administration official of Moynihan, "He's a breath of fresh...
...troubled lenders, Britain's government has been mulling a bank tax for months. Prime Minister Gordon Brown's proposal last fall for an international "Tobin tax" - a levy on financial-market transactions ranging from foreign-currency trades to derivatives - received a chilly reception abroad. U.S. Treasury Secretary Timothy Geithner pooh-poohed it as "not something we're prepared to support." But Darling's call for a global bank tax could yield something closer to the U.S. vision. Such a levy might involve taxing banks' wholesale funding, in line with the Financial Crisis Responsibility Fee proposed by Obama in January...
...leadership), its top export markets are still weak, and that is fostering a powerful drive toward boosting domestic consumption. The country also feels threatened by calls - most prominently made by U.S. President Barack Obama - for the renminbi to better reflect market fundamentals. In the past, U.S. Treasury Secretary Timothy Geithner has outright accused China of manipulating the renminbi and most (though not all) economists believe that China's currency needs to rise versus the dollar. But at a moment when U.S. unemployment is close to 10%, Beijing feels that it is being made a scapegoat for economic problems that...
...rides on that being true, and a key test is upcoming. In mid-April, Geithner has to decide whether to formally brand China a currency manipulator, something the U.S. has thus far refrained from doing. If he does, Beijing will be furious. And if he doesn't, the U.S. Congress, already threatening new tariffs against Chinese imports, will be furious. One hopeful sign: a U.S. Treasury team was recently in Beijing, no doubt talking about exactly this subject. Politics is rearing its head on both sides of the Pacific these days. And it may take an optimist on the scale...
...Spokesperson. Quick: Name all three of Bush's Treasury Secretaries. Hard to do, isn't it? Like Bush, Obama has failed to install an economics commander in chief who can serve as the public face and the in-house honcho of the Administration's financial team. Treasury Secretary Tim Geithner, National Economic Council chief Larry Summers and Council of Economic Advisers chair Christina Romer all bring strengths to their positions, but none is especially effective at conveying either a consistent message or a sufficient urgency, and none stands out symbolically or practically as America's economics czar...