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White House: Economy can weather housing headwinds

WASHINGTON
Thu Nov 29, 2007 1:40pm EST

WASHINGTON (Reuters) - The White House on Thursday played down the risk of a recession and said the economy should be able to weather the difficulties in the housing market.

Barack Obama  |  Bonds

"It's been clear to everyone that the fallout from the housing market is going to have an effect," White House press secretary Dana Perino said.

"But even despite that headwind, we believe we have strong fundamentals in our economy," Perino said when asked if the administration was concerned about a downturn.
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