The world and national economies are actually in pretty good shape.
So said former U.S. Treasury Secretary Timothy Geithner during a visit to New Jersey to address members of the State Investment Council at their annual meeting.
The council, which was formed by the state Legislature in 1950 to set policies governing New Jersey’s investments and currently oversees a portfolio valued at $80 billion, heard Geithner — who was a key player in the Obama administration’s response to the 2009 economic crisis — give a generally upbeat overview of the global and domestic economies.
Geithner, citing an economic slowdown in Asia and Europe’s slow recovery from the 2009 economic crisis, said the United States remains the world’s leading economy. But he warned that the nation’s current economic expansion needs to continue and noted that China’s economy remains formidable.
Read the full report by NJTV News, a content partner of NJ Spotlight.