Treasury Secretary Timothy Geithner on Thursday said the Federal Reserve must play a central supervisory function in ensuring the stability of the U.S. financial system.
I think the Fed has to play a central role. There has to be an institution that looks over, has authority over the major institutions that create the risk of hurting the financial system as we saw during this crisis, he said in an interview on CNBC television.
Geithner also said it was important for the United States to have a strong dollar, given the key role it plays as a reserve currency for the global economy. He said it was vital that world knows the United States will be committed to living within its means in future and getting deficits under control.
(Reporting by Glenn Somerville; Editing by Theodore d'Afflisio)