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"As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past."
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"Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire."
"The State Department desperately needs to be vigorously harnessed. It has too big a role to play in the formulation of foreign policy, and foreign policy is too important to be left up to foreign service officers."
"Foreign aid is neither a failure nor a panacea. It is, instead, an important tool of American policy that can serve the interests of the United States and the world if wisely administered."
"The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy."
"Already, China has undermined U.S. foreign policy in efforts to gain access to oil resources in Iran and Sudan. We simply cannot separate the political and economic values of oil."
"Domestic inflation reflects domestic monetary policy."
"The United States has got to adopt a policy of befriending and creating allies around the world."
"I see the policy of opposing same-sex marriages or unions, whatever you call it, as bigotry or discrimination."
"We cannot be any stronger in our foreign policy for all the bombs and guns we may heap up in our arsenals than we are in the spirit which rules inside the country. Foreign policy, like a river, cannot rise above its source."
Explore more quotes by Timothy Geithner
"We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households."
"Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through."
"Although this crisis in some ways started in the United States, it is a global crisis. We bear a substantial share of the responsibility for what has happened, but factors that made the crisis so acute and so difficult to contain lie in a broader set of global forces that built up in the years before the start of our current troubles."
"This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize."
"Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability."
"This crisis exposed very significant problems in the financial systems of the United States and some other major economies. Innovation got too far out in front of the knowledge of risk."
"It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to be competitive. It is not a viable, feasible strategy, and we will not engage in it."
"In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems."
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