G-20 confidence 'rising' about recovery: Geithner

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LOS ANGELES (MarketWatch) -- U.S. Treasury Secretary Timothy Geithner said that G-20 ministers and governors are displaying "rising confidence" about the global economic recovery's strength. In a statement issued Saturday after the G-20 meeting, Geithner said the International Monetary Fund has concluded that emerging markets are growing at a 6.5% rate while established powers such as Europe and Japan are growing at 1.5%, with the U.S. somewhere in between. In the U.S., growth is gathering momentum and inflation risks are modest, but unemployment is still too high, Geithner said.

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