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U.S. taps pension fund to avoid debt ceiling
The US government stopped investing in a federal employee pension fund Tuesday to avoid breaching the nation’s legal borrowing limit, the Treasury Department said. The action is among the extraordinary bookkeeping measures the Treasury announced on December 31 to keep the government’s debt below the current $16.4 trillion limit. In…
Obama mocks Lew’s loopy signature: Don’t devalue the dollar with illegible writing
President Barack Obama jokingly joined in criticism of Jack Lew’s signature on Thursday, urging his Treasury nominee to change it before it appears on the greenback and risks devaluing the dollar. Lew’s doodle-like eight-loop signature — a cute but utterly undecipherable scrawl described as an “unraveled slinky” by one graphologist…
Geithner: ‘We don’t know’ about U.S. banks’ role in Libor-fixing scandal
Treasury Secretary Timothy Geithner on Thursday said he did not know whether three major US banks were involved in the manipulation of a key benchmark borrowing rate. Answering Senate Banking Committee questions about Bank of America, Citibank and JP Morgan Chase’s possible roles in the global Libor fixing scandal, Geithner…
U.S. growing at 2-3 percent rate: Geithner
DAVOS, Switzerland (Reuters) – The U.S. economy is growing at 2-3 percent but still faces big challenges to repair damage wrought by the financial crisis, Treasury Secretary Timothy Geithner said on Friday. “I think if you look at the Fed’s forecast and the consensus of private forecasters, people are pretty…
Geithner says wouldn’t serve in an Obama 2nd term
WASHINGTON (Reuters) – Treasury Secretary Timothy Geithner said on Wednesday he would not expect to be asked to continue as Treasury chief if President Barack Obama wins re-election. “He’s not going to ask me to stay on, I’m pretty confident,” Geithner said during a Bloomberg television interview conducted in North…
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