Geithner feels the US Economy is Recovering
Posted by Stephen Cline on February 7th, 2010There seems to be some sense of guarded optimism and confidence that the US economy may be on the way to recovery. But the sentiments are not unequivocally positive or exuberant given the enormity of the challenge and also the unprecedented economic crisis from which the economy is still to emerge fully from. Treasury Secretary Timothy Geithner appeared on “This Week” on ABC News and said that he is of the opinion that the US economy is back on growth mode. This was on the back of better than expected employment figures that came in Friday.
But it is also clear that the way back out of the woods was still some time away given the magnitude of the problem. It does seem as if the double dip recession is receding little by little. But the employment report is seen to have thrown up some encouraging trends. As GDP increases, the economy sees better demand for goods and services. After this comes longer work weeks, which are in turn followed by greater demand for employees by the private sector, fueling more job creation within the country. All of these positive signals of economic recovery have been visible in the recent past which seems to signal a claw back from the recession of the past.
Tags: economic recovery, US economy