BREAKING NEWS

Geithner: US 'relatively confident' it can manage economy

By REUTERS

OCTOBER 9, 2012 14:08

NEW DELHI - US Treasury Secretary Timothy Geithner said on Tuesday he was "relatively confident" that Washington can manage its fiscal challenges.

The US economy could be pitched into a new recession because of substantial tax rises and government spending cuts - the so-called "fiscal cliff" - due to hit early next year unless Congress agrees to cancel or delay them.

But Geithner sounded a cautiously upbeat note at an India-US business forum during a visit to New Delhi.

"Now we're growing close to potential but if you look through those factors, its a little more encouraging than you might think," he said. "We are now in a much stronger position than what is true for any other major developed economy."

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