US economy 'gradually' improving: Geithner

The US economy is "gradually" improving after the financial crisis, US Treasury Secretary Timothy Geithner said in an interview on NBC News' "Meet the Press" program, to be broadcast Sunday.

"I talked to businesses across the country, and I would say that is the general view, an economy that's gradually getting better," Geithner said in excerpts of the interview released in advance of its broadcast.

Geithner also downplayed the prospects of a "double-dip" recession, in which the economy sinks again after a short period of growth.

He said that given the specific drivers of the recent recession, including the US housing bubble, "what you would expect is a more moderate paced recovery... and that's what we're seeing."

Despite the slow pace "you are seeing a recovery. You're seeing private investment expand again, job growth starting to come back. And that's very encouraging," he said.

Federal Reserve chairman Ben Bernanke warned US lawmakers on July 21 that the outlook for the US economy was "unusually uncertain," saying the central bank could step in if the recovery fails.

Bernanke said the world's largest economy would see "moderate growth, a gradual decline in the unemployment rate and subdued inflation over the next several years."

Compounding fears of a painful exit from recession, he also warned that private sector hiring was growing at an "insufficient" pace.