- MANCHESTER, New Hampshire: US Treasury Secretary Timothy Geithner said the International Energy Agency’s decision this week to release government-held crude oil reserves was “sensible policy.”
“It will provide some modest help and relief” to the US economy, Geithner said after a meeting with local business leaders in Manchester, New Hampshire.
“It was a prudent use of existing reserves.”
Geithner said he was confident Congress can still reach a budget deal, even after a top Republican lawmaker walked out of the talks this week, but that tax increases cannot be taken out of the equation entirely.
“You need to have modest changes in revenue,” said Geithner, “There is no way to do a deal without it.”