Geithner on challenges facing US financial system

In a speech on 'Change and Challenges Facing the U.S. Financial System' given on 25 March, Timothy Geithner of the Federal Reserve Bank of New York said the current deterioration in the U.S. fiscal position and the acute decline in the net national savings rate represent risks to the financial system and the economy as a whole.

The speech was Geithner's first as head of the New York Fed. Geithner said the U.S. economic outlook looks solid for this year and next, while the global economy looks to

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