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DOW JONES NEWSWIRES

U.S. President George W. Bush’s top economic advisor said parts of the nation seem to be in recession, Reuters reported on its Web site Sunday. Edward Lazear, chairman of the president’s Council of Economic Advisors, said “We are seeing what anyone would characterize as a recession in some parts of the country,” Reuters reported. Lazear made the comments on CNN, Reuters reported. Lazear also said the administration is pursuing “the right steps,” and also said there are signs the government’s $700 billion credit market plan is beginning to show positive results.

Full story at http://www.reuters.com/article/newsOne/idUSTRE49I21E20081019

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Technorati Tags: Cnn, Council Of Economic Advisors, Dow Jones, Dow Jones Newswires, Economic Advisor, Edward Lazear, George W Bush, President George W Bush, Recession, Reuters, S 700, S Council, Signs, White House