Geithner says US financial system in substantially better shape, economy more stable

Geithner sees hopeful signs in US economy

BEIJING — U.S. Treasury Secretary Timothy Geithner says the U.S. financial system is in much better shape these days and there is more stability in the overall economy.

Geithner told reporters traveling with him Beijing that there are a number of signs the U.S. economy is beginning to stabilize. The U.S. has been mired in its longest recession since World War II.

But Geithner said much more needs to be done — both in the U.S. and elsewhere — to make a sustainable recovery possible.