“We're going to be able to deliver that [reform]," he said, "because you see broad support among both Republicans and Democrats for the recognition that we've got to change that basic system of housing finance.”
He spoke to CNBC from Alaska, en route to Asia for a G-20 economic summit in Busan, South Korea, this weekend.
Geithner acknowledged that the jobs recovery had turned the corner, but noted that some Americans are still hurting. Given the severity of the recession, Geithner said, it will take a while for the public to regain confidence and for the economy to heal completely.
“It [the improving jobs picture] is being translated into longer hours worked and more job creation,” he added.
Geithner denied the Obama administration is anti-business, a sentiment being floated on Wall Street, in light of new financial regulations.
He said the administration believes businesses must have the tools to innovate and that it recognizes the private sector must lead the recovery. At the same time, he said, the needs of the average Americans are a priority.
“We are committed to making sure that government meets the needs of Main Street,” said Geithner.
On global financial reform, the secretary said of paramount importance is that countries reach a consensus on standards of transparency in the markets, for instance, and other measures, and recommit to them.
Also key, he said, is a framework that strikes the right balance between protecting businesses and consumers and preserving business's capacity for innovation, so that financial markets can do a better job of serving the economy.
“We’re working very closely with Europe and the other financial centers to try to make sure we have strong standards for transparency and disclosure across these markets,” he added.
“Markets work better, when they’re not operating in the dark. Markets work better when investors have the capacity to better assess risk in these institutions.”