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American Express CEO sees challenges through 2009

WASHINGTON
Wed Dec 3, 2008 1:00pm EST

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WASHINGTON (Reuters) - The chief executive of American Express Co (AXP.N) said on Wednesday that he sees tough business conditions through next year.

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"We think that this is going to continue to be a challenging environment certainly through 2009," Kenneth Chenault said during the Fortune 500 Forum.

Chenault said until housing prices stabilize, conditions are going to continue to be "very, very challenging."

(Reporting by Karey Wutkowski; editing by Jeffrey Benkoe)
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