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Rebound will take time: Geithner

US Treasury Secretary Timothy Geithner said on Monday the financial system was beginning to thaw but any renewed pick-up in the economy would likely be slower than usual.

world Updated: Jun 16, 2009 00:01 IST
Hindustan Times

US Treasury Secretary Timothy Geithner said on Monday the financial system was beginning to thaw but any renewed pick-up in the economy would likely be slower than usual.

‘Recovery will be slower than we would normally see,” Geithner said at an event sponsored by Time Warner. “This is still going to be an exceptionally challenging time for business and consumers.”

He added that unemployment will likely continue rising even as economic growth resumes.

Reuters

First Published: Jun 15, 2009 23:59 IST