Treasury Secretary Timothy F. Geithner said he doesn't expect President Barack Obama to ask him to stay in office if he's re-elected, and he dismissed Wall Street's concerns about financial regulations.
"He's not going to ask me to stay on, I'm pretty confident," Geithner said in an interview with Bloomberg Television today. "I'm confident he'll be president. But I'm also confident he's going to have the privilege of having another secretary of the Treasury." He said he would do "something else."
Geithner, 50, said he wasn't concerned about Wall Street complaints over the Dodd-Frank financial overhaul.
"I would not worry too much about them," Geithner said in the interview in Charlotte, North Carolina. "I would worry more about the basic confidence of Americans that they're going to face more opportunities, more likely to find a job, keep a job, save for college, save for a dignified retirement."
The unemployment rate in December dropped to 8.5 percent, a three-year low, and employers expanded payrolls by 200,000, an indication that the job market is gaining momentum.
On Europe, Geithner said leaders there are "making some progress. They got a lot of work to do." He said he tells European leaders that they need to "put in place a stronger, more credible firewall."
Trip to Davos
Geithner travels from North Carolina to Davos, Switzerland, tonight for the 42nd annual meeting of the World Economic Forum, his sixth trip to the continent since September. Germany, Europe's dominant economic power, signaled on Jan. 23 that it might back an increase in the region's overall rescue capacity to 750 billion euros ($983 billion) from 500 billion euros.
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