President Bush and the Economy
This morning President Bush held a news conference to address a variety of issues, most notably the economy (but without using the word “recession“). As investors gear up for tomorrow’s expected Fed rate cut, as well as inflation data on Thursday and jobs data and Friday, President Bush assured us that measures are being taken to stimulate the economy (including the tax rebate).
The economic data, as well as the response to the president’s remarks on the economy this morning, will affect a variety of markets, from stocks to bonds to currencies to commodities. When you go to make investments, it is important that you consider economic data, as well as the rhetoric used by leaders.
President Bush addressed the issues associated with the housing market, as well as those associated with rising oil prices and with food prices inflation. A great deal of the president’s talk of the economy focused on energy costs, and ways he thinks that we can stimulate the economy by lowering energy prices.
President Bush also pressed Congress on the economy, intimating that it is the fault of the Democrat-led Congress that the economy is having problems. The New York Times reports on today’s remarks by President Bush on the economy:
Speaking at a news conference in the White House Rose Garden Tuesday morning, President Bush issued a sweeping indictment of the Democratic-led Congress, essentially blaming the sputtering economy on what he characterized as the House’s failure to propose “sensible†bills that he could sign into law. …
“On all these issues, the American people are looking to their leaders to come together and act responsibly,†he said. “I don’t think this is too much to ask even in an election year.â€
While today’s remarks will likely have an effect on the stock market and other markets, it is worth noting that the Fed rate cut tomorrow, as well as worries that it will be the last for quite some time, are more likely to affect the stock market — and other markets as well.
Disclaimer: I am not an investment professional. Nothing in this piece or on this Web site should be construed as investment advice. Before making investment decisions, do your own research and/or consult with an investment professional. All investment comes with the risk of loss.
Tags: investing blog, stock market, economy, stock market news,
President Bush, President Bush economy
April 30th, 2008 at 8:49 am
[…] on the heels of a speech on the difficult economy made by President Bush, the stock futures were a little lower this morning. However, thanks to some positive economic […]