Economic Recovery to Take Months: Paulson

But banking remains 'safe and sound'
By Caroline Zimmerman,  Newser Staff
Posted Jul 20, 2008 5:42 PM CDT
Economic Recovery to Take Months: Paulson
Treasury Secretary Henry Paulson testifies on the economy, Tuesday, July 15, 2008, before the Senate Banking Committee on Capitol Hill in Washington.    (Associated Press)

(Newser) – Henry Paulson sought to reassure Americans today that US banking is "sound" despite a growing list of troubled banks, Reuters reports. He also said the economy will stay slow for months, but expressed confidence that Congress will shore up Fannie Mae and Freddie Mac before summer recess. "Congress understands how important these institutions are," he said on Face the Nation. (Read more Henry Paulson stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X