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 NEW YORK (AP) - President Bush preached optimism and Republican orthodoxy of minimalist government intervention Friday as the best approach to an increasingly troubled economy.
The president chose the nation's financial heart as the backdrop — and titans of business as the audience — for his most high-profile attempt to date to calm nerves from Wall Street to Main Street.
His main message, aside from displaying confidence in the U.S. economy's underpinnings and historical resilience, was to caution against overreaction by policymakers that could damage the economy's short- and long-term prospects, something he did about a half-dozen times in 40 minutes of remarks.
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