U.S. Sen. Chuck Schumer, speaking at an event Monday in Purchase, applauded the President-elect Barack Obama's selection of Timothy Geithner as the new treasury secretary.

Geithner, the New York Federal Reserve president, has the problem-solving skills needed to address the economic crises, said Schumer. The New York Democrat made the comments at an event hosted by the Westchester County Association in Purchase. Schumer, chairman of the Senate Banking Committee, also spoke about the economic stimulus package backed by Obama. The senator predicted the economy could turn around just as quickly as it went south.

Schumer also said Obama's two-pronged stimulus package will benefit Westchester County, given what County Executive Andrew Spano told him.

"Andy Spano mentioned to me that they have a $300 million sewer upgrade - water and sewer upgrade - coming and no federal help thus far," says Schumer. "Well, it would be a lot better if that were a part of the package, than a burden to the local taxpayers."

To watch more on Sen. Schumer's appearance in Westchester, go to channel 612 on your iO digital cable box and select iO Extra.