White House (AP) President Bush today is getting a cautiously upbeat report on the economy from his treasury chief.
Just back from a week in the Mideast, the President will hear what Treasury Secretary Henry Paulson told business executives while he was away.
Paulson said the country is “closer to the end of the market turmoil than the beginning.”
He says financial markets are “considerably calmer” than they were just two months ago. One hopeful sign: new home construction last month jumped by its biggest margin in two years.
Yet other economic measures are still way down, especially consumer confidence. Amid rising gas and food prices, that's now at its lowest level in 28 years.