Geithner Says Moderate Recovery Underway

Davos, Switzerland, Jan. 28, 2011 -- Treasury Secretary Tim Geithner said he's confident that an economic recovery is underway.

He pointed to increases in private investment and job creation over the last 12 months. 

He also referenced economists' estimates of 3.5% to 4% annual growth for the U.S. this year, as well as projections that unemployment will fall to below 8% by the end of next year.

He said the recovery is likely to be moderate and that unemployment will fall slowly.