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White House declines comment on Fed rate cut

WASHINGTON (Reuters) - The White House on Tuesday declined comment on the Federal Reserve's cut in benchmark interest rates.

"We don't comment on Fed policy rate decisions," White House spokesman Tony Fratto said. "We respect the independence of the Fed in setting monetary policy."

President George W. Bush was due to meet later on Tuesday with congressional leaders for what the White House said is mostly intended as a briefing on his Middle East trip. But Fratto said, "Of course, it's expected that efforts to address short-term economic growth will be discussed."

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Added: Jan-22-2008 
By: stefan171
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Tags: world, news, stock, market, crash, white, house, federal, reserve
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