WASHINGTON -(Dow Jones)- U.S. President George W. Bush will outline the government's moves to stabilize financial markets and restore investor confidence during a public statement scheduled for 10:45 a.m. EDT (1445 GMT), The White House said.
"He will describe a series of actions being taken now by the Federal Reserve, the Treasury Department, and the SEC, and the intention to work in a bipartisan way with Congress on a system-wide proposal to improve the health of our financial institutions," White House spokeswoman Dana Perino said.
The statement, Bush's third this week on the market meltdown, comes as policymakers scramble to craft a sweeping response to the crisis that has whipsawed share prices and threatened some of the world's biggest financial institutions. U.S. Treasury Secretary Henry Paulson will discuss the formulation of "comprehensive approach to market developments" in a 10:00 a.m. press conference at the Treasury Department.
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