Davos: In a candid admission of the problems plaguing the world's largest economy, US Treasury Secretary Timothy Geithner said on Friday the country was seeing "very high levels of poverty and inequality". Geithner's comments at the World Economic Forum (WEF) annual meeting in Davos came on a day when the US government data showed that the country's economy grew 2.8 per cent in the last three months of 2011. "(There...
10:03 PM, Jan 27, 2012
Davos: China is keeping its currency below its fair value and it represents a "formidable challenge" to the global trading system, US Treasury Secretary Timothy Geithner said on Friday. Sharply criticising the Communist giant's state-led economic system, Geithner said, "China does represent a really unique and formidable challenge to the global trading system because the structure of its economy... is overwhelmingly dominated by the state." Chinese trade practices, including subsidies...
09:11 PM, Jan 27, 2012
New Delhi: As one of the 15-largest foreign creditors to the US, India's exposure to the United States' ballooning debts is estimated at $41 billion, higher than the money America owes to countries like France and Australia. The overall national debt of the US is moving nearer to $15 trillion, out of which it owes over $4.5 trillion to foreign countries holding the US government debt securities. While China is...
02:41 PM, Aug 07, 2011
Washington: The United States will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy. A small majority of economists, 30 out of 53 surveyed over the past two days said the United States will lose its AAA credit rating from one of the three big ratings agencies Standard...
02:40 AM, Jul 28, 2011
Washington: As inflation hits double digits - here's a warning coming from US Treasury Secretary Timothy Geithner. Geithner says India has outgrown its financial system and needs reforms to be able to continue with fast-paced growth. Observing that India and the US are at the threshold of unlocking the great potential of their bilateral economic relationship, Timothy Geithner on Monday urged New Delhi to accelerate next generation reform to spur...
10:01 AM, Jun 28, 2011
Washington: Gasoline and food prices hoisted US inflation to a 2.5 year high in April, but there was little sign of a broader pick-up in consumer prices that would trouble the Federal Reserve. The pace of food and fuel price rises slowed considerably from March, suggesting inflation pressures may be peaking. That, along with a strengthening labor market, lifted the spirits of consumers who have been battered by rising prices....
10:22 AM, May 14, 2011
35-year-old Neel Kashkari will head the key Office of Financial Stability. ...
08:30 AM, Oct 07, 2008
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