US Treasury Secretary expresses faith in investors

Sudan News.Net
Monday 8th February, 2010

US Treasury Secretary, Timothy Geithner, has expressed confidence that warnings from Moody's ratings agency will not deter investors.

In an interview on ABC television, Mr Geithner said investors would never snub US Treasury bonds.

He said: "If you look at what has happened throughout this crisis, when people were most worried about the stability of the world, they still found safety in Treasuries and the dollar."

Geithner said the Obama administration would take measures to reduce the country's deficit, which is now in the trillions of dollars.

The latest projection for the deficit is 1.556 trillion dollars; a record for the US.

Moody's Investors Service recently said the US would need to be tough in taking action to get its finances in order to avert problems in the coming years.

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