Geithner says need to keep stimulus on

Nov 7th, 2009 - Reuters

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Geithner says need to keep stimulus on

ST ANDREWS, Scotland (Reuters) - U.S. Treasury Secretary Timothy Geithner said high unemployment rates show that economic recovery is still perilous and governments need to maintain stimulus as long as necessary to ensure sustained growth.

"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 at the conclusion of a two-day Group of 20 meeting.

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