Rice: U.S. Economy Resilient

DAVOS, Switzerland (AP) — Secretary of State Condoleezza Rice says the U.S. economy is resilient and will remain an “engine of growth.”

Speaking during the World Economic Forum in Switzerland Wednesday, Rice said that President Bush’s $150-billion stimulus package would “boost consumer spending and support business investment this year.”

Her comments come amid anxiety from other world leaders at the forum who say the U.S. is in a recession that could affect the global economy.

Rice says she knows many are concerned about recent fluctuations on Wall Street, but that Washington is working to lay out a stimulus plan that is “swift, robust, broad-based, and temporary.”

Rice also said the U.S. would welcome foreign investment and free trade.