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US politician backs unemployment goal

22 November 2010
US politician backs unemployment goalPlans to drive down unemployment in the US should continue to be a focus for politicians, the country's Treasury secretary has declared.

Timothy Geithner urged Republicans to back efforts by the White House to drive down joblessness and stated goals to this end would be followed by the Obama administration.

His comments come after two individuals - Representative Mike Pence and Senator Bob Corker - called for the Federal Reserve to scrap a "dual mandate" focusing on full employment and low inflation.

Speaking to Bloomberg, Mr Geithner said: "It is very important to keep politics out of monetary policy, as Congress recognized when it established the Fed."

He added the bank must remain independent in order to ensure economic growth is sustained.

Latest figures from the US Bureau of Labor Statistics indicated gross job losses in the country fell to 6.4 million in March 2010, a low for the body's current series.

Posted by Fiona SummersADNFCR-1275-ID-800248366-ADNFCR