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Geithner: Japan won't need to sell U.S. Treasuries

Geithner: Japan won't need to sell U.S. Treasuries (by Ronald D. Orol)

WASHINGTON (MarketWatch) -- In response to a question, Treasury Secretary Tim Geithner said Tuesday that he does not believe that there is a risk Japan will have to resort to selling some of their U.S. Treasury holdings to raise cash in order to respond to the damage caused by an earthquake and tsunami. "I do not," Geithner said in response to a question by Sen. Charles Schumer at a Senate Banking Committee hearing. "Japan is a very rich country and has a high savings rate and has the capacity to deal not just with the humanitarian challenge but also the reconstruction challenge they face ahead."

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Geithner: Japan won't need to sell U.S. Treasuries