• Most Popular
  • Most Shared

Bush to make statement Fri after market volatility

Thu Oct 9, 2008 5:32pm EDT

WASHINGTON, Oct 9 (Reuters) - President George W. Bush will make a statement on Friday morning to assure Americans that every action is being taken to stabilize the financial system, a day after the U.S. stock market tumbled more than 600 points.

Currencies  |  Bonds

"Following the market's continued volatility this afternoon, the president will deliver a statement in the Rose Garden tomorrow morning," White House spokeswoman Dana Perino said on Thursday.

"He will assure the American people that they should be confident that economic officials are aggressively taking every action to stabilize our financial system," she said.

The Treasury Department is "moving quickly" to improve liquidity to ease the credit crisis, Perino said.

Bush will make the statement at about 10 a.m. EDT (1400 GMT), she said.

(Reporting by Tabassum Zakaria; Editing by Patricia Zengerle)



More from Reuters

Photo

Time Warner Cable, Fox at impasse; blackout looms

NEW YORK (Reuters) - About 13 million Time Warner Cable Inc subscribers will lose Fox programing at midnight unless the cable service provider reaches a last-minute deal to pay News Corp fees to broadcast the network's shows.

 A picture of an arrow in this file photo. REUTERS/File

The coming Great Inflation

Real or imagined, Americans have plenty of things to worry about. Should inflation be one of them?  Full Article 

REUTERS/Bernd Debusmann
Bernd Debusmann:

Killing people is easier than killing ideas

All the talk about hunting down those responsible for attacks on the U.S. has a familiar ring.  Commentary