Geithner began with praise for his former colleagues at the New York Fed and with a joke aimed at Pete Peterson, a CFR patron, about his contributions to the organization.

Geithner also gave a hat-tip to Peterson that may rankle some of Peterson's critics on the left, who oppose his push to cut spending on Social Security and Medicare.

"We are all fiscal hawks now because of Pete Peterson," Geithner said, at least half-joking. "There are no doves left."