President Bush is trying to reassure nervous investors as U.S. stocks
continue their downward slide. Mr. Bush says the fundamentals of the American
economy are strong and steps are being taken to address the problem of
corporate accountability.
The White House has taken a two-prong approach to the current turmoil in
the stock markets: stress the strength of the economy, and continue the push
for corporate reforms.
A series of corporate accounting scandals has shaken confidence in the
business sector. The result has been the unusual combination of a growing
economy and declining stock prices.
The president says jittery investors should look to the overall economic
trends, saying the value of stocks ultimately will rise.
"I know the economics, the platform for growth, is in good
shape," he said. "Inflation is low, monetary policy is sound, fiscal
policy is sound, productivity is up, orders for durable goods are up. We have
got the platform for growth and when the values get there, you will see the
market go back up."