Secretary Geithner is on the Hill today, testifying on derivatives. He says we are near the point where the government will have to make no new TARP commitments. He sees no further government commitments like those that accompanied Fannie and Freddie and says stability has been brought back to the US financial system. He says he will soon be making suggestions to Congress on how to end the TARP program safely. He says TARP money returned will address long-term fiscal needs.
EUR/USD remains range-bound trading in the low 1.5080s.
