Home / Markets / Industries / Government
Monday, November 02, 2009
Summers to Lead High-Level Meeting on Economy
Reuters
WASHINGTON--White House economic adviser Lawrence Summers will lead a high-level meeting Monday to discuss the state of the economy, job creation and ways to achieve sustainable growth.
A White House announcement said the meeting would take place at 2 p.m. EST and would include Cabinet officials from Treasury Secretary Timothy Geithner to Health and Human Services Secretary Kathleen Sebelius, Agriculture Secretary Tom Vilsack and Energy Secretary Steven Chu.
National Security Adviser James Jones, White House climate czar Carol Browner, U.S. Trade Representative Ron Kirk and senior White House adviser Valerie Jarrett are also among those scheduled to attend.
A spokesman for Summers, who is director of the White House National Economic Council, described the meeting as one of the regular gatherings of the council
"This is a principals' meeting for the department and agency heads who participate in the NEC process to gather and discuss the state of the economy," said NEC spokesman Matthew Vogel.
The Summers meeting will be separate from a gathering that President Barack Obama will hold with his panel of outside economic experts headed by former Federal Reserve Chairman Paul Volcker.
The Obama administration has been weighing options to address ways to try to restart job growth with the unemployment rate now at 9.8%.
Signaling the end to the deepest recession since the 1930s Great Depression, the government last week said U.S. gross domestic product grew at a robust 3.5% pace in the third quarter.
Obama trumpeted the GDP numbers in his weekly radio address on Saturday but said, "we have a long way to go before we return to prosperity."
The White House has credited the $787 billion economic stimulus package passed earlier this year with helping to bring about the rebound.
Republicans have characterized the stimulus package as wasteful and say the continued job losses are an indication it has not worked.
New unemployment numbers due out Friday are expected to show U.S. employers cut another 175,000 jobs in October, according to economists polled by Reuters. The unemployment rate is forecast to rise to 9.9% for October.
Fox Business Video
-
-
The Crisis With 20/20 Hindsight
-
Nov 21, 2009
FOXBusiness.com LIVE
-
-
-
Jerry Rice Talks Career
-
Nov 21, 2009
NFL Receiver on career on the gridiron
-
-
-
John O'Hurley as Venture Capitalist
-
Nov 21, 2009
Comedian on life as venture capitalist
-
-
-
Excess Spending in Congress
-
Nov 21, 2009
Saving $100 Million
-
-
-
Cavuto Business Report 11-20-09
-
Nov 21, 2009
Business Report: Cavuto
-






