Bush: U.S. is acting to resolve crisis

WASHINGTON, Oct. 11 (UPI) -- U.S. President George W. Bush said Saturday the United States and other nations are working together to resolve the financial crisis affecting global markets.

In his weekly radio address, the president told listeners much of the crisis is "driven by uncertainty and fear" but he said the United States government "is acting -- and will continue to act -- to resolve this crisis and restore stability to our markets."

Bush listed several steps the government is taking, including the Federal Reserve's injection of hundreds of billions of dollars into key markets, and the Fed's coordination with central banks from other nations on interest rate cuts, which he said "should help free up credit."

The president said Washington is "working closely with our partners around the world to ensure that our actions are coordinated and effective." He said those steps include his scheduled meeting Saturday with the heads of the World Bank and the International Monetary Fund and finance ministers from the United States, Britain, France, Germany, Italy, Japan and Canada, and U.S. Treasury Secretary Henry Paulson's meeting with finance ministers from the top 20 world economies.

Calling the U.S. economy "the strongest and most resilient" in the world," Bush said "in the long run, Americans have reason to be confident."