President George W. Bush said on Sunday the American economy was not growing as quickly as he would like and that his administration supported a strong dollar policy.
The U.S. economy grew at a 1 percent annual rate in the first quarter amid soaring oil and commodity prices. In a sign of continuing weakness, the Labor Department reported last week U.S. employers cut jobs for the sixth straight month in June.
The Bush administration has come under pressure from abroad to take action to stabilize the weak U.S. dollar, another issue likely to come up during the G8 meetings at the lakeside resort of Toyako July 7-9, after complaints the weakness has contributed to soaring food and fuel prices.
Full Story: Bush says backs strong dollar policy (Reuters)
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The U.S. economy grew at a 1 percent annual rate in the first quarter amid soaring oil and commodity prices. In a sign of continuing weakness, the Labor Department reported last week U.S. employers cut jobs for the sixth straight month in June.
The Bush administration has come under pressure from abroad to take action to stabilize the weak U.S. dollar, another issue likely to come up during the G8 meetings at the lakeside resort of Toyako July 7-9, after complaints the weakness has contributed to soaring food and fuel prices.
Full Story: Bush says backs strong dollar policy (Reuters)
Elastic Tapes Blog, News and Updates
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