Bush vows to stabilise US economy
President George W Bush has promised Americans their government is working “aggressively” to steady the economy.
Speaking from the White House, Mr Bush said recent market turmoil was being driven by “uncertainty and 
fear”.
He spoke as world markets tumbled amid rising fears of a global recession, despite interest rate cuts and huge cash injections by central banks.
He also defended a recent $700bn (£410bn) rescue plan for Wall Street, saying that it was big enough.
Mr Bush said the bail-out package he signed into law a week ago would “take time to have its full impact”.
Offering no new remedies, he said: “We are a prosperous nation with immense resources and a wide range of tools at our disposal. We are using these tools aggressively.”
Acknowledging mounting worry among people about their retirement and investment accounts, he pledged: “Fellow citizens: We can solve this crisis, and we will.”
He said the US was working “closely with our partners from around the world” to stabilise the panic-stricken markets.
“Through these efforts, the world is sending an unmistakable signal. We’re in this together and we’ll come through this together,” said Mr Bush.
The White House later dismissed suggestions that US markets would be suspended so international financial rules could be rewritten amid the turmoil. The idea had been raised by Italian Prime Minister Silvio Berlusconi.
“There are absolutely no plans or discussions to interfere with the functioning of markets in the United States,” White House spokesman Tony Fratto said.
