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kksal55 : Paulson: Quick stimulus action is needed
22.01.2008 22:45:58
WASHINGTON - Treasury Secretary Henry Paulson said on Tuesday he was confident the U.S. and global economies were resilient but welcomed an emergency rate cut by the Federal Reserve as a helpful move.
The U.S. central bank cut benchmark U.S. interest rates by a steep three-quarters of a percentage point while Paulson while still answering questions after addressing a Chamber of Commerce breakfast meeting.
Paulson had earlier acknowledged the U.S. economy has slowed “materially” in recent weeks but, despite a meltdown in global stock prices, insisted that the global economy had ”underlying resiliency” that would let it weather the storm.
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