U.S. Treasury Secretary Timothy Geithner sounded a relatively cautious note on the state of capital markets regulation reform Thursday, detailing the work various branches of the federal executive have done, what the results had been so far, and what expectations he held for 2012.
EU leaders will sign off on a permanent rescue fund for the euro zone at a summit on Monday and are expected to agree on a balanced budget rule in national legislation, with unresolved problems in Greece casting a shadow on the discussions.
The breakup of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.
Treasury Secretary Timothy Geithner pressed Europe on Friday to boost its bailout fund resources, citing the euro zone debt crisis and oil prices as the two main factors influencing the pace of the United States' economic upturn.
The U.S. economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a strong rebuilding of stocks by businesses and weak spending on capital goods hinted at slower growth in early 2012.
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.
Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration's bank reforms were hostile to the U.S. financial industry, saying on Wednesday the reforms were "tough where they need to be tough."
Secretary of the Treasury Timothy Geithner said Wednesday he won’t serve in a second Obama Administration
because he doesn’t expect to be invited to continue.
Xi is largely an unknown entity to U.S. officials.
Japan has joined the U.S. in its economic efforts to pressure Iran to abandon its nuclear program by agreeing to buy less Iranian oil.
Almost one-third of Iran’s oil exports go to China. Or, put another way, 11 percent of Chinese oil imports comes from Iran.
European governments have agreed in principle to ban imports of Iranian oil, EU diplomats said Wednesday, dealing a new blow to the Islamic Republic.
The U.S. Treasury again shied away from labeling China a currency manipulator on Tuesday, but it rapped the country for not moving fast enough on exchange rate reforms.
The U.S. Cabinet comprises the Vice President and the head of fifteen executive departments, the most prominent of which is probably the Secretary of State.
The U.S. Mint will cut off mass production of presidential $1 coins, making just enough to meet demand for collectors, Vice President Joe Biden announced at a Cabinet meeting.
It was billed as a summit to save the euro. It may be remembered as the day Europe lost patience with Britain, as most of the continent threw its lot in with European Union founding members France and Germany and committed to binding their economies ever more tightly.
The president of the European Commission appealed to EU leaders on Thursday to set aside their differences and unite to rescue the euro from a sovereign debt crisis that is menacing the world economy.
In the past few months, but particularly in the last few days, the British Chancellor of the Exchequer and the Governor of the Bank of England, roughly British equivalents to the American Treasury Secretary and Fed Chairman, have become the bane of the English banking system's existence. Other British government officials have also joined the fray.
Stock index futures pointed to a higher open for equities on Wall Street on Wednesday, with futures for the S&P 500, the Dow Jones and Nasdaq 100 up 0.6-0.8 percent.
U.S. Treasury Secretary Timothy Geithner arrived in Germany on Tuesday to advocate for Eurozone officials to definitively resolve the debt crisis.
Biden met with Greece President Karolos Papoulias on Monday before beginning talks with new Greek Prime Minister Lucas Papademos. Biden arrived in Greece after traveling from Turkey. This week is seen as crucial for the struggling Eurozone. Italy's new government unveiled austerity measures that European leaders hope will be the start of a turning point in the struggle to keep the euro intact.
World stocks and demand for German government bonds rose on Monday as confidence grew European leaders would make big strides in solving the euro zone's debt crisis at a crucial summit this week.
