US to thrive as 'worst is over' - Treasury

clock

US Treasury Secretary Henry M. Paulson has tipped the American economy will "move on to new heights" following this current period of uncertainty.

Speaking in Kansas City overnight, Secretary Paulson says he expects President Bush’s $100bn household stimulus package, currently in the distribution process, will aid the ailing economy immediately. Paulson says the payments, in addition to the $50bn business relief, will help the US economy through its “difficult patch”. “Our economy had been growing for more than six straight years when growth started to slow last winter. And it has remained slow in the first part of 2008,” the Secretary says. “We expect that these payments will help right away, help individuals, families and our e...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Watch Professional Adviser's Working Lunch with Schroders - Beyond the Pulse: Essential insights for financial advisers in 2025

Catch up on the discussion

Professional Adviser
clock 10 July 2025 • 1 min read
Investors 'do not understand' implications of private markets investing

Investors 'do not understand' implications of private markets investing

House of Lords Financial Services Regulation Committee looked at the issues

Linus Uhlig
clock 09 July 2025 • 1 min read
NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

Making technology work better

Katrina Lloyd
clock 03 July 2025 • 9 min read