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Timothy Geithner

Timothy Geithner Quotes

Former United States Secretary of the Treasury

Timothy F. Geithner is a former United States Secretary of the Treasury, serving under President Barack Obama from 2009 to 2013. Born on August 18, 1961, in New York City, Geithner is recognized for his pivotal role in the financial crisis of 2008 and his efforts to stabilize the U.S. economy during that time.

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Famous Timothy Geithner Quotes

“The rating agencies were not exceedingly competent”

Humor Financial Crisis Understated

Book:STRESS TEST

Source: STRESS TEST

“There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.”

Want Littles Long Ends Government Waiting Economy Risk Lessons Crisis Financial Spending Damage Get Away More Money Underestimate Financial Crisis

Author:Timothy Geithner

“Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system.”

Past Majors Built Stronger Crisis Institutions Financial Shock Infrastructure Resilient Financial System Shock Absorber

Author:Timothy Geithner

“Monetary policy itself cannot sensibly be directed at reducing imbalances.”

Policy Reducing Monetary Imbalance Monetary Policy

Author:Timothy Geithner

“As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.”

Important Play Past Roles Policy Behavior Investing Financial Assets Monetary Financial Markets Monetary Policy

Author:Timothy Geithner

“We have parts of our system which are overwhelmed by regulation. It wasn't the absence of regulation that was the problem. It was despite the presence of regulation you got huge risks built up.”

Problem Risk Huge Built Absence Despite Regulation Overwhelmed

Author:Timothy Geithner

“Hyperinflation is not going to happen in this country, will never happen... The Fed putting so much money into the system is not going to create the risk of hyperinflation in the future. We have a strong independent Federal Reserve with a very strong mandate from the Congress, and they will do what's necessary to keep inflation low and stable over time.”

Country Happens Strong Risk Lows Independent Congress Feds Very Strong Stable Reserves Inflation Mandates Federal Reserve Strong Man Strong Independent Hyperinflation

Author:Timothy Geithner

“We believe in a strong dollar. Chinese financial assets are very safe.”

Believe Strong Safe Dollars Financial Chinese Assets

Author:Timothy Geithner

“I believe deeply that it's very important to the United States, to the economic health of the United States, that we maintain a strong dollar.”

Believe Important States Strong I Believe United United States Economic Dollars

Author:Timothy Geithner

“If you don't try to generate more revenues through tax reform, if you don't ask, you know, the most fortunate Americans to bear a slightly larger burden of the privilege of being an American, then you have to - the only way to achieve fiscal sustainability is through unacceptably deep cuts in benefits for middle class seniors, or unacceptably deep cuts in national security.”

“Most consequential choices involve shades of gray, and some fog is often useful in getting things done”

Done Choices Gray Shade Fog Things Done Getting Things Done Shades Of Gray

Author:Timothy Geithner

“In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems”

May Today Risk Crisis Financial Traditional Probability Financial Crisis Financial System Financial Risk

Author:Timothy Geithner

“Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through.”

World Economic Modern Financial Turmoil Modern Times Confluence

Author:Timothy Geithner

“Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability”

Ifs Thinking Want War Deals Judgment Areas Crisis Contrary Stability Wiser Preparing Instability

Author:Timothy Geithner

“The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.”

“The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.”

Moving Cases Path Policy Movement Moving Forward Uncertainty Assets Keep Moving Keep Moving Forward

Author:Timothy Geithner

“This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize.”

Business Economy Crisis Versions Cycles Usual Fierce Typical Severe Recessions Downturn Economic Downturn

Author:Timothy Geithner

“The recognition that things that are not sustainable will eventually come to an end does not give us much of a guide to whether the transition will be calm or exciting.”

Giving Doe Ends Exciting Calm Guides Recognition Transition

Author:Timothy Geithner

“The government can help, but we need to make this transition now to a recovery led by private investment.”

Needs Helping Government Investment Recovery Transition

Author:Timothy Geithner

“The choice is between which mistake is easier to correct: underdoing it or overdoing it.”

Choices Mistake Easier Overdoing It

Author:Timothy Geithner

“The rest of the world needs the U.S. economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe.”

World Needs Order Economy Economic Activity Trade Financial Ties Regions Globes Revive Financial System

Author:Timothy Geithner

“And I think it's a prudent, responsible way, given the scale of the emergency, the scale of the damage still facing America, that we finance these additional support for the unemployed as well as the support for small business. We think there's a good case for doing it now. We want to do it in an overall fiscally responsible way.”

Thinking Way Want Wells Stills America Given Business Cases Support Responsible Scales Finance Damage Small Business Emergencies Unemployed Prudent

Author:Timothy Geithner

“Financial crises require governments.”

Government Crisis Financial Financial Crisis

Author:Timothy Geithner

“The plausible outcomes range from the gradual and benign to the more precipitous and damaging.”

Range Outcomes Plausible Benign

Author:Timothy Geithner

“The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we're prepared to make a commitment today to bring down our future deficits.”

About the Author

Born: August 18, 1961
Known for: Former United States Secretary of the Treasury
Quotes: 25

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