Accessibility links

Breaking News

Obama: Economy Returning to Normal

U.S. President Barack Obama said the economy is returning to normal.

He spoke after meeting with a panel of outside economic advisors headed by former Federal Reserve chief Paul Volcker.

Mr. Obama said the group is offering him advice on energy, financial regulations, employment, and manufacturing.

While economic issues were under review at the White House, the U.S. House of Representatives is discussing changes in the rules governing credit card companies.

The Senate has already passed a bill that prevents some of the actions that have angered many customers, including arbitrary interest rate hikes on existing balances.

The lower house passed a similar bill earlier, and once differences are worked out, it will be sent to the president for his signature. Mr. Obama has endorsed credit card reforms.