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U.S. "relatively confident" can manage fiscal challenges - Geithner

Source : REUTERS
Last Updated: Tue, Oct 09, 2012 11:20 hrs
U.S. Treasury Secretary Geithner addresses students during his visit to the American Embassy School in New Delhi

NEW DELHI (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Tuesday he was "relatively confident" that Washington can manage its fiscal challenges.

The U.S. economy could be pitched into a new recession because of substantial tax rises and government spending cuts - the so-called "fiscal cliff" - due to hit early next year unless Congress agrees to cancel or delay them.

But Geithner sounded a cautiously upbeat note at an India-U.S. business forum during a visit to New Delhi.

"Now we're growing close to potential but if you look through those factors, it's a little more encouraging than you might think," he said. "We are now in a much stronger position than what is true for any other major developed economy."

(Reporting by Manoj Kumar and Rajesh Kumar Singh; Editing by John Chalmers)




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