Geithner Predicts Big Things at G20

(NEWSER) - President Obama and Hu Jintao of China met today at the G20 summit in London and agreed to close cooperation on issues ranging from the economic crisis to global security, Time reports. Obama will travel to China later this year. Meanwhile, high-level representatives will meet in Washington during the summer to launch a "strategic and economic dialogue.” More»

Treasury seeks billions to help IMF prop up struggling nations

(NEWSER) - Tim Geithner is calling on the other G20 nations to help the US get the global economy back on its feet, the Washington Post reports. The Treasury secretary, who leaves for a G20 summit tomorrow, said in a briefing yesterday the administration plans to ask Congress for another $100 billion to help the IMF aid the worst-hit economies, and urged other leaders to substantially increase their contributions. More»

(AP) - This was no Roman holiday for Timothy Geithner. But after crashing global markets with a botched rollout of a bank rescue plan, the new Treasury secretary earned better reviews from global finance officials meeting in Rome. Geithner appeared more assured at a news conference here following two days of G-8 talks. However, few new details emerged from the closed-door meetings. More»

But warns there's no 'quick fix' to rising gas prices

(NEWSER) - The Obama administration is open to using the strategic petroleum reserve if necessary to deal with rising gas prices, Timothy Geithner said in a CNBC interview, though he didn't sound terribly enthusiastic about the prospect, and warned that there was "no quick fix" to the problem. Gas prices are up 12 cents this week, and indeed shot up 3.5 cents overnight to a national average of $3.65, CNN reports. Geithner attributed that to improved growth expectations in the US, "and also Iran is doing a little saber rattling." More»

Treasury secretary says he's done after election

(NEWSER) - Tim Geithner is pretty sure he's going to be joining the ranks of the jobless after the election: The Treasury secretary—the longest serving member of President Obama's economic team—tells Bloomberg that Obama is "not going to ask me to stay on, I’m pretty confident. I’m confident he’ll be president. But I’m also confident he’s going to have the privilege of having another secretary of the Treasury." The White House announced in August that Geithner would stay put through the election, amid Beltway rumblings that he would step down. More»