The former Treasury Secretary has an agreement with Crown Publishers, an imprint of Random House, Inc. Crown announced Thursday that Geithner's book, currently untitled, is scheduled for 2014 and will provide a "behind-the-scenes" account of the financial crisis.
The U.S. government is running up against its $16.4 trillion borrowing limit and is taking steps to avoid default. Reaching the limit Monday sets up another dispute between the White House and Congress over taxes and spending in the new year.
The U.S. will not weaken the dollar in order to boost its exports, Treasury Secretary Timothy Geithner promised. "It is not going to happen in this country," Geithner told Silicon Valley business leaders of devaluing the dollar.
A bill, passed by the U.S. House of Representatives Wednesday, would let U.S. companies petition for duties on Chinese imports -- a move that would hurt the global economy if it became law, the Chinese government said.
The Chinese yuan hit a post-revaluation high against the dollar Monday after the People's Bank of China set the yuan's reference rate for trading at its highest level since the central bank began publishing the daily fix in 1994. The yuan can rise or fall 0.5% each day from the reference point.
Blaming them for promoting "19 months of government-as-community organizer," House Minority Leader John Boehner is expected to call on President Barack Obama to fire Treasury chief Tim Geithner and economic adviser Lawrence Summers.
During a speech Monday, U.S. Treasury Secretary Timothy Geithner pledged a speedy implementation of the financial system overhaul. One of the first tasks on the list? Simplifying all the paperwork.
Speaking on two TV programs Sunday, Geithner said letting the tax cuts for those making $250,000 a year or more expire would demonstrate the country's commitment to controlling the deficit.
Last month, China said it would loosen the tight link between its currency, the yuan, and the U.S. dollar. It was a move welcomed by economists and world leaders who felt China was engaging in unfair currency manipulation. But on Wednesday, the government in Beijing backpedaled a bit.
China's central bank said it will allow more flexibility in the exchange rate of its currency, the yuan. This seems intended to help foreign economies as China's shows increased strength. Critics have said an undervalued currency gives China an unfair trade advantage.
Want to know what Beijing really believes about China's red-hot economy, its real estate market or the state of the global recovery? Look at whether it allows China's currency to rise against the dollar.
Treasury Secretary Timothy Geithner told lawmakers Thursday China is making progress in addressing U.S. concerns over the glaring trade imbalance between the countries, but much works remains to be done to promote a level playing field between the nations.
Timothy Geithner and Ben Bernanke told lawmakers on Tuesday that the Lehman bankrupcty is the best example of the need for the Obama administration's proposed financial regulatory reforms. Former CEO Dick Fuld defended the bank, claiming it was hit by a "perfect storm."
U.S. Treasury Secretary Timothy Geithner says the U.S. government "will never" lose its sterling credit rating despite big budget deficits and a newly increased debt limit that now tops $14 trillion.
As part of an effort to redirect TARP funds from Wall Street to Main Street, the Treasury Department Wednesday announced a program that will help local financial institutions get more loans out to people and businesses in the communities hardest hit by the recession.
No one can deny that a budget with a $3.83 trillion bottom line has a fair amount of waste embedded in it. But like pornography, art and classic rock, government waste is in the eye of the beholder. The bigger issue is a congressional culture of out-of-control spending.
Former Fed Chairman Paul Volcker's won a major battle in his crusade for banking reform when President Obama announced his support for Volcker's plan to restrict the size and activities of the largest U.S. financial institutions.
Treasury Secretary Timothy Geithner told National Public Radio in an interview Tuesday that he strongly believes we are on the road to recovery, but it won't be fast. "We were in a very deep hole," he said, which will take a long time to repair.
The Congressional Oversight Panel's December report on TARP concluded that it "proved decisive enough to stop the panic and restore market confidence," but failed to address many of the "ongoing problems" in the financial markets and the broader economy. However, it didn't call for ending the program.
