He should not publicly press India to open its financial sector.
So, Tim Geithner, the US Treasury secretary, is fighting chronic uncertainty with transparency. The results of the "stress tests", an exercise to identify undercapitalised banks so the government can make sure they have enough capital to recover, will be announced on Thursday.
US Treasury Secretary Tim Geithner and Finance Minister Pranab Mukherjee announced the establishment of a new US-India Economic and Financial Partnership to strengthen bilateral engagement and understanding on macroeconomic, financial sector and infrastructure-related issues.
Obama administration wants to force a wide range of large financial institutions to hold more capital as part of a sweeping regulatory overhaul
The weather in Washington is balmy, but Finance Minister Pranab Mukherjee, in the US to attend a meeting of the International Monetary Fund and the World Bank, would feel a distinct chill as he readies to meet corporate America.
Tim Geithner, President Barack Obama's choice for Treasury secretary, on Thursday accused China of "manipulating" its currency and pledged "aggressive" diplomatic action to drive Beijing into action.
China is not manipulating its currency, but the yuan remains undervalued, the Obama administration told the US Congress in a report.
United States President-elect Barack Obama on Monday officially unveiled the economic team that will assist him in tackling what he termed 'an economic crisis of historic proportions'.Obama has named New York Federal Reserve President Tim Geithner as US Treasury Secretary and former Treasury Secretary Larry Summers as chief of the National Economic Council.
So far, neither Washington nor Wall Street seems to have fully grasped this political sea-change, or figured how to deal with it.
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