US Treasury Secretary Tim Geithner says the US economy is in much better shape thanks to actions taken by our wise and benevolent leader to mitigate the financial crisis. There is still a terrible mess to deal with before the economy is back to normal, he says.
There are still a lot of foreclosures ahead, will be a difficult problem to work through, the Secretary says. He also says he has confidence on the growing economic recovery in the US and abroad.
Markets are in quiet ranges after a very choppy morning. Cable is showing particular weakness after earlier getting a boost from a narrower-than expected trade deficit. It trades at 1.5357 down from a high of 1.5448 in early New York trade.
