1.
Mother said Josh Powell threatened her
WASHINGTON, April 5 (UPI) -- U.S. Treasury Secretary Timothy Geithner said Sunday it is premature to know if the White House will ask Congress for additional stimulus funds.
In an appearance on CBS's "Face the Nation" program, Geithner warned that efforts to jump-start the recessionary U.S. economy are not going to be smooth.
"We're going to have fits and starts. There will be a period where it feels very bad and uncertain," he said in the interview. He said also that job losses may get worse before the economy improves. Unemployment has already reached 8.5 percent, the worst in decades.
"The typical pattern of recoveries is that growth recovers, growth starts to turn positive, people start to spend more, people -- businesses hire more, they invest more, before you see unemployment peak," he said. "That's the crude reality of recoveries."
Among the bright spots in the economy, Geithner pointed to the mortgage rates, which are at historic lows.
"Millions of Americans now are going to be able to refinance their homes, take advantage of lower interest rates. That's cash in the hands of the American people, and that's very powerful," he said.
|
|
|
|
|
|
| Additional Top News Stories | |
TACOMA, Wash., Feb. 9 (UPI) --
The mother of Josh Powell, who killed himself and his sons in a fire in Washington state, said in divorce papers he exhibited disturbing behavior as a teenager.
|
NEW YORK, Feb. 9 (UPI) --
Macaulay Culkin is in "perfectly good health," his publicist said after the former child star was photographed looking gaunt and disheveled in New York.
|
WASHINGTON, Feb. 9 (UPI) --
President Obama hailed a $25 billion agreement among 49 states, the U.S. government and the five biggest mortgage servicers.
|
XINXIANG CITY, China, Feb. 9 (UPI) --
A set of parents in China said they expected a large baby, but they were shocked when their son came out weighing a potentially record-setting 15 1/2 pounds.
|
| Stories | Photos | People | Comments |
View Caption
