News
11-7-09 10:58 AM EST
| E-mail Article
Meena Thiruvengadam
Of Dow Jones Newswires
ST. ANDREWS,
"If we put the brakes on too quickly, we will weaken the economy and the
financial system, unemployment will rise, more businesses will fail, budget
deficits will rise, and the ultimate cost of the crisis will be greater,"
Geithner said in a statement issued after a meeting of Group of 20 leading
economies' finance ministers and central bank governors.
Geithner said sustained growth will be required in order to pull down unemployment rates. A report released Friday showed the U.S. unemployment rate has jumped to 10.2%.
Geithner in his statement also said G20 economic leaders have made progress at the weekend's meeting.
-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629; meena.thiruvengadam@dowjones.com
(END) Dow Jones Newswires11-07-09 1058ET Copyright (c) 2009 Dow Jones & Company, Inc.
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