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September 15, 2008
President Bush's Statement on the Economy
George W. Bush11:00 A.M. EDT
PRESIDENT BUSH: Good morning. I'm pleased to be here with my friend, the President of Ghana, John Kufuor of Ghana. We just had a very good discussion and before I summarize it I do want to say a word about the U.S. economy.
I know Americans are concerned about the adjustments that are taking place in our financial markets. At the White House and throughout my administration, we're focused on them -- and we're working to reduce disruptions and minimize the impact of these financial market developments on the broader economy.
I've been in close touch with Secretary Paulson throughout this weekend and this morning. I appreciate the work the Treasury Department, and the Federal Reserve, and the Securities and Exchange Commission, and major financial institutions here and around the world are doing to promote stability in the financial systems.
As policymakers, we're focused on the health of the financial system as a whole. In the short run, adjustments in the financial markets can be painful -- both for the people concerned about their investments and for the employees of the affected firms. In the long run, I'm confident that our capital markets are flexible and resilient and can deal with these adjustments.
