Content Tagged As timothy_geithner

2 years 3 weeks ago

Senate confirms Lew as Treasury secretary

WASHINGTON (AP) - The Senate confirmed Jacob "Jack" Lew to be Treasury secretary, affirming President Barack Obama's choice of a budget expert at a time when Congress and the White House are at odds over sharp government spending cuts. The Senate voted 71-26 to support the nomination. Lew, 57, had...

3 years 7 months ago

Geithner says he will stay at Treasury

WASHINGTON (AP) - Timothy Geithner has told President Barack Obama that he will remain on the job as Treasury secretary. The Treasury Department released a statement Sunday saying Geithner had informed the president of his decision to remain in the administration. Geithner is the only remaining top official on...

5 years 1 month ago

Geithner says US credit rating safe despite debt

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. Geithner says in an interview broadcast Sunday that in times of economic crisis, international investors will continue to buy U.S....

5 years 2 months ago

House subpoenas Geithner's AIG e-mails, phone logs

A House committee probing bailout deals is demanding that the Federal Reserve Bank of New York turn over correspondence from Treasury Secretary Timothy Geithner and other officials. The House Oversight and Government Affairs Committee is looking into New York Fed decisions that funneled billions of dollars to big banks, including...

5 years 6 months ago

Federal deficit hits $1.38 trillion in August

The federal deficit surged higher into record territory in August, hitting $1.38 trillion with one month left in the budget year. The soaring deficits have raised worries about the willingness of foreigners to keep purchasing Treasury debt. The Chinese, now the largest foreign owners of U.S. Treasury securities, have...

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