Geithner: Growth Too Slow, but on Right Track

“Treasury Secretary Timothy Geithner said the economy is “definitely slower,” but defended the Obama administration’s actions and said Washington needs to take aggressive action to promote growth.

CNBC.com Treasury Secretary Timothy Geithner

Speaking at the “Delivering Alpha” conference presented by CNBC andInstitutional Investor, Geithner rejected the idea that the economy is headed for another recession.

“What the economy needs right now is very substantial and well-designed program for support of economic growth,” Geithner said in a live interview.

He said Congress ought to continue payroll tax cuts for “98 percent” of American workers and make mortgage refinancing more readily available, among other proposals.”

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