White House: watching global economy closely

SAN ANTONIO, Texas (Reuters) - The White House on Monday said it was watching closely the economic situation around the world and that U.S. financial agencies were in regular contact with their counterparts overseas.

"Obviously we watch very closely the economic situation not only in this country but around the world, and the officials from Treasury, Federal Reserve, FDIC and other agencies throughout our government are in regular contact with their counterparts overseas to work cooperatively to promote stability and confidence in our markets," White House spokesman Scott Stanzel told reporters traveling with President George W. Bush who was attending a fund-raiser in San Antonio.

(Reporting by Tabassum Zakaria; Editing by James Dalgleish)