Geithner says economic weakness mostly temporary

Reuters News
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Posted: Jun 24, 2011 4:33 PM
Geithner says economic weakness mostly temporary

WASHINGTON (Reuters) - Around two-thirds of recent softness in the U.S. economy can be attributed to temporary factors such as higher energy costs and Japan's earthquake, Treasury Secretary Timothy Geithner told CNBC on Friday.

"Most people say you can attribute about two thirds of the slow down relative to expectations to those factors. Not all of it," he said. "Of course, the risk always is that weakness will accumulate."

(Reporting by Pedro Nicolaci da Costa)