The American economy is not headed for a double dip recession and is likely to gradually strengthen over the coming year, US Treasury Secretary Timothy Geithner believes.
Speaking to NBC yesterday, Geithner dismissed fears the world's largest economy would fall back into recession before improving.
"I think the most likely thing is, you see an economy that gradually strengthens - over the next year or two. You see job growth start to come back again," Geithner said.
"Again, investments expanding, manufacturing get a little stronger, exports better. Those are very encouraging signs. But we got a long way to go still."
Geithner also believes the US economy is still benefiting from Barack Obama's massive stimulus packages.
"There is a lot of stimulus still in the pipeline," Geithner said.
"We have got some long term fiscal problems, they are going to be a challenge for the rest of the country. We are going to work to fix those problems we inherited, but the best way to do that is to make sure we are growing, private investment starts to come back, private firms start to hire again.
"The Government can help, but we need to make this transition now to a recovery led by private investment.
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