U.S. President George W. Bush said Thursday that he was optimistic about the U.S. economy despite recent turbulence in the financial market.
"I'm optimistic about our economy," Bush said at a White House news conference. "I say that the fundamentals of our nation's economy are strong."
"I would be pessimistic if I thought Congress was going to get their way and raise taxes," he said.
He said inflation is down, markets are steady, unemployment is relatively low, exports are up and corporate profits seem to be strong.
But he admitted the recent turbulence in the financial market had had an effect on the economy.
"There is no question there are some unsettling times in the housing markets and credits associated with the housing market," he said, adding, however, that he did not see these problems spreading to the broader economy.
Source: Xinhua
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