Tim Geithner, US Treasury secretary, has urged politicians and central bankers to rekindle growth by casting aside “political paralysis [and] misplaced fears about inflation and moral hazard”, as forecasts suggest the world’s richest economies are likely to stagnate for the rest of the year.
Writing in the Financial Times, Mr Geithner called on US lawmakers to support a “substantial package of public investments” to boost jobs, Europe to resolve its sovereign debt crisis, and China to strengthen domestic demand and allow the renminbi to appreciate.
His appeal for urgent action followed the release of extremely weak economic forecasts for the rest of the
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