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Politics : The Obama - Clinton Disaster
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To: DuckTapeSunroof who wrote (15689)7/20/2009 4:43:03 PM
From: puborectalis  Read Replies (1) of 103300
 
The U.S. economy has come a “long way” since the start of the year and is no longer in “freefall,” said Lawrence Summers, director of the White House’s National Economic Council.

“We’ve come a long way,” he said in an interview today with Bloomberg Television in Washington. “You had an economy in freefall at the beginning of this year” and now “we’re in a different place today.”

Policy makers are seeing signs of improvement in the economy and markets, such as fewer jobless claims and rising stock prices, even as the unemployment rate is poised to climb as high as 10 percent.

“You no longer have that sense of a collapsing economy,” said the former Treasury secretary and Harvard University president.
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