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Obama: Stock 'fits and starts' are normal reaction
WASHINGTON (AP) - President Barack Obama is comparing the stock market to the daily tracking polls used during campaigns, saying that paying too close attention to Wall Street's "fits and starts" could lead to bad long-term policy.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Obama spoke to reporters Tuesday after meeting in the Oval Office with visiting British Prime Minister Gordon Brown. Obama said he is not measuring policies against "the day-to-day gyrations of the stock market," but by whether lending is flowing more freely, businesses are investing and the unemployed are going back to work.
He said he is "absolutely confident" that those things will happen. But the president also said it will take time for the mistakes of the past to work their way through the system.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
