The US Economy on a stable orbit
Posted on December 23, 2009 by John Trevors for Luckyroom.com
The optimism that the U.S. economy is in a stable orbit recovery was expressed yesterday by Treasury Secretary Tim Geithner, however he has posed the issue that the limited lending given out by the banks continue to pose risks to the general outlook of the US economy.
“Right now, the real danger we face is that the banks do not lend enough and will not provide the funds needed by enterprises to grow and be strengthened in the economy,” said Geithner in an interview at National Public Radio.
Earlier yesterday, U.S. Secretary attended a meeting held by Barack Obama with representatives of small banks from all communities in the country, where they discussed their intentions regarding loans.
According to Geithner the Obama administration is determined to ensure that they will retire early support to the financial system, whereas this would lengthen the period of economic slowdown.
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