US Treasury Secretary Timothy Geithner said on Saturday the United States was focused on restoring growth to the world's largest economy and reaffirmed Washington's commitment to a strong dollar. "It's very important to the United States that we continue to have a strong dollar," Geithner said at a news conference in Istanbul after a meeting of the finance chiefs of the Group of Seven richest countries.
The US Treasury chief spoke in response to a reporter's question about the dollar's weakness in recent months and repeated insistence by President Barack Obama's administration on a strong-dollar policy. "We recognise the dollar's important role in the system conveys special burdens and responsibilities on the US," Geithner said.
"And we're going to do everything necessary to make sure we sustain confidence," he said, referring to the Federal Reserve's massive support of the financial system and accommodative monetary policy that has kept its key interest rate near zero to try to stimulate economic growth. Washington is committed "to make sure we bring our growth level back to sustainable conditions as soon as we have a recovery under way," Geithner said. "The important thing is the world is growing," he added.
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