Tim Geithner was on CNBC talking economy, oil, and so on.There wasn’t too much news made, but here are our notes.
What about oil prices?
- It’s problematic, but high oil prices mostly reflect strong growth.
- There’s a “case for the use of reserves in some circumstances.” Not now probably.
On domestic energy policy:
- There’s been a substantial increase in domestic exploration and so on.
- This is a good time to pursue it, given the coming expiry of the Bush tax cuts.
- The firewall needs to be bigger, but they’re taking the right approach already.
- “IF Europe, takes the necessary steps… then we are fully prepared to see the IMF take a bigger role.
On housing reform:
- The government is not done trying to stem the foreclosure crisis. We’re going to do everything we can to help Americans take advantage of lower rates. It’s going to take more time. We will keep at it.
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