White House: Economy to strengthen later in year
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The White House said on Friday that the U.S. economy was "mixed" and should strengthen later in the year once it was past the worst of the housing market slump and steep oil prices.
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The White House on Wednesday said the U.S. economy is fundamentally strong a day after stock markets around the world took a plunge.
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TORRANCE, California  - President George W. Bush said on Wednesday the U.S. economy is slowing but is resilient and would overcome problems as it has in the past, following a government report showing growth slumped at the end of last year.
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The United States will enjoy solid growth, low inflation and falling unemployment next year, the White House said on Friday in its official economic forecast that would normally not be released until February.
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The economy should expand modestly in coming months as a healthy job market continues to trump weakness in housing prices.
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Treasury Secretary Henry Paulson said on Monday the Bush administration was considering how to give the economy a boost as it weathers a housing correction, but didn't want to rush.
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WHITE SULPHUR SPRINGS, W., Virginia  - President George W. Bush said on Friday he was confident in the long-term strength of the economy, but urged lawmakers to act swiftly on a stimulus plan he and others hope will help stave off a possible recession.
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President George W. Bush will wrap  up conferring with his economic team on Friday on ways to keep  the economy growing against a backdrop of higher interest  rates, mixed data and fears of rising inflation.
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The U.S. economy will grow slowly  during the first half of the year, but pick up strength as the  months pass, a survey of top forecasters showed on Saturday.
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If the unemployment rate stays at current levels until the election, President Bush stands a much better chance at winning another four years in the White House, a job placement firm reported Monday.
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The White House is betting that the steps it has taken to address the housing and financial crises will be enough to avert a recession without resorting to a major tax cut or new spending, as leading economists in both parties have urged, senior administration officials said.
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The White House expects revised data due on Friday to show job creation from March 2003 to March 2004 was much more robust than thought, economists who received
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US President George W. Bush warned Tuesday that "it's going to take a while to work through the downturn" in the crisis-hit US housing market, but said the US economy was resilient.
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The stimulus package being hashed out between Congress and the White House, along with the Fedâs recent rate cut, should give a modest boost to the U.S. economy by mid-2008, the I.M.F. said.
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The Treasury secretary said the Bush administration was considering how to give the economy a boost as it weathers a housing correction, but does not want to rush.
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The U.S. economy should experience slower growth than originally anticipated for the remainder of the year and in 2007, the White House said Tuesday.
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U.S. President George W. Bush said on Friday that the U.S. economy was on solid footing despite a weak employment report, and gave no hint of what his administration may have in store to bolster growth.