Geithner: Economy Headed Toward Recovery

Treasury Secretary Tim Geithner says economy has pulled back from the edge of disaster and is taking its first steps toward recovery, but there’s still ‘a ways to go.’

CLEVELAND (AP) -- Treasury Secretary Tim Geithner says the economy has pulled back from the edge of disaster and is taking its first steps toward recovery.

But he tells reporters in Ohio that there's still "a ways to go."

The Obama Cabinet member spoke at a news conference Thursday, after touring a Cleveland area school being rebuilt with help from the administration's economic stimulus program.

Geithner pointed to Ohio's slowing job losses as one early sign of recovery. The state has gone from shedding 100,000 jobs a month to losing 30,000 per month.

The secretary says nationwide, fear is giving way to the initial signs of stronger confidence in the economy.

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