A Proposal from Geithner to the G20

October 22, 2010

Finance ministers and central bank chiefs from the Group of Twenty are meeting in Gyeongiu, South Korea.  U.S. Treasury Secretary Geithner has proposed a target for current account-to-GDP ratios, which the big surplus countries appear to be rejecting.  Market players doubt any significant breakthrough on currency management will emerge at this meeting but are in […] More

Euro Up Despite Geithner Remarks

October 21, 2010

U.S. Treasury Secretary Geithner reiterated that the dollar is fairly valued against the yen and euro.  Nonetheless, the euro hit $1.4052 today versus a low of $1.3698 yesterday and on balance is 0.5% stronger than Wednesday’s close.  The dollar also eased 0.4% against the Canadian dollar, and 0.1% relative to the yen, Australian dollar, and […] More

Geithner Remark Lends Dollar Slight Support

October 19, 2010

The dollar rose 0.6% against sterling, 0.4% versus the kiwi, 0.3% relative to the Canadian dollar, 0.2% against the yen, euro and Australian dollar, and 0.1% against the Swissy.  The yuan is steady against the dollar. Today marks the 23rd anniversary of the Dow’s 22.6% crash of 1987.  Conditions are calm. Stocks advanced 2.1% in […] More

Geithner NYT Editorial Not a Game Changer

August 3, 2010

A defense of the Obama economic policy record by Treasury Secretary Geithner appears in today’s New York Times.  The accomplishments mentioned are standard ones.  They contain no fresh claims, and will do little to resurrect the administration’s popularity.  Geithner writes that Nobody expected recovery from the great recession to be easy or quick. GDP has […] More

Market Crisis Intensifies

May 25, 2010

Stocks plummeted overnight by 3.5% in Hong Kong, 3.7% in Indonesia, 3.1% in Japan and Thailand, 3.2% in Taiwan, 2.8% in South Korea, 2.7% in India, and 1.9% in New Zealand and Malaysia.  In Europe, the Spanish IBEX, Paris Cac, German Dax, and British Ftse are down by 4.1%, 3.8%, 3.0%, and 2.9%.  Futures point […] More