The pace of economic deterioration has started to slow down in some areas, Treasury Secretary Timothy Geithner told CNBC Wednesday.
“That’s promising but it’s going to take some time to work through,” he said in a taped interview. “The government is putting enough force on the economy as a whole and into the financial system so that we bring recovery back as soon as possible.”
Although the TARP has “substantial” resources, said Geithner, the crisis may require additional funding. In addition to government intervention, the private sector would also need to take part in stimulating recovery, he said.