"(The) point I want to make to you is, if there needs to be further action, we'll take it, in a way that does not damage the long-term health of our economy," he said in a speech at Blount Island Marine Terminal in Jacksonville, Fla.

Bush pointed to the stimulus package that includes tax rebates and small business tax breaks passed by Congress earlier this year and to weekend action by the U.S. Treasury Department and Federal Reserve to "promote stability in our financial markets at a crucial time" by cutting interest rates and financially assisting in the fire sale of Bears Stearns to JP Morgan Chase.

"In the long run, Americans ought to have confidence in our economy," Bush said. "I mean, there are -- there are some anchors that promote long-term -- that should promote long-term confidence."

International trade figures into Bush's equation. He spoke of the free-trade agreement with Columbia, saying Congress must take it up this year. He said the agreement was necessary for the two countries for economic and security reasons.