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Timothy Geithner Quotes

American - Public | August 18, 1961 -

Most consequential choices involve shades of gray, and some fog is often useful in getting things done.

Timothy Geithner

Fog Choices Done Gray Shades Things

The choice is between which mistake is easier to correct: underdoing it or overdoing it.

Timothy Geithner

Mistake Choice Between Easier Which

Although this crisis in some ways started in the United States, it is a global crisis. We bear a substantial share of the responsibility for what has happened, but factors that made the crisis so acute and so difficult to contain lie in a broader set of global forces that built up in the years before the start of our current troubles.

Timothy Geithner

Responsibility Lie Start Crisis Bear

There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.

Timothy Geithner

Money Risks Wait Financial End Long

Financial crises require governments.

Timothy Geithner

Government Financial Governments

Monetary policy itself cannot sensibly be directed at reducing imbalances.

Timothy Geithner

Policy Cannot Monetary Policy Itself

The plausible outcomes range from the gradual and benign to the more precipitous and damaging.

Timothy Geithner

More Range Outcomes Benign Plausible

The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.

Timothy Geithner

Path Forward Uncertainty Price Going

As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.

Timothy Geithner

Past Forward Financial Behavior Play

Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability.

Timothy Geithner

Peace War Think Better You Want

The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.

Timothy Geithner

Today Quality Achievement Challenges

The recognition that things that are not sustainable will eventually come to an end does not give us much of a guide to whether the transition will be calm or exciting.

Timothy Geithner

Calm End Recognition Transition Will

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