Geithner: We're Still in 'Darkness'

Try to contain your enthusiasm if you were starting to feel optimistic about the economy. Treasury Secretary Timothy Geithner sounded hesitant to celebrate at a meeting of G-7 finance ministers and central bank leaders in Washington yesterday, saying, "We are right to feel somewhat encouraged, but we would be wrong to conclude that we are close to emerging from the darkness that descended on the global economy early last fall.” While some measures of spending in the U.S. appear to be stabilizing, it would be wrong to confuse the slowing of the deterioration of the economy with the beginning of a recovery, Geithner said. He also called for governments to continue with a unified stance and “keep at implementing our shared agenda,” which were comments in line with those made at last month’s G-20 summit.