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Gore says too soon to shift gaze from stimulus

Gore says too soon to shift gaze from stimulus

Former U.S. Vice President Al Gore said Tuesday it is too early for the United States and other leading economies to shift their focus away from stimulus efforts because the economy remains fragile.
Speaking at a leadership conference in Dubai, Gore said the world is recovering from the global economic downturn, but progress remains slow.
He said policymakers in Washington and elsewhere should keep focusing on bolstering the economy rather than reducing deficit levels for now.
"The job picture is still weak, and so there is still the threat that families will suffer around the world from a prolonged and slow recovery from this recession," Gore said.
U.S. government figures due out this week are expected to show the nation's economic output has begun to creep upward, backing up the view of many economists that the recession officially ended in June or July.
Gore's comments came as The Conference Board's widely watched measure of consumer confidence showed Americans' confidence in the health of the economy unexpectedly dropped in October amid a bleak job market.
Stemming the tide of unemployment remains a challenge, both in the U.S. and around the globe, Gore said.
White House officials have said that despite running a record $1.4 trillion deficit, all options to generate new jobs remain on the table, including another stimulus package.
Christina Romer, the chair of President Barack Obama's Council of Economic Advisers, said last week that the government's initial $787 billion stimulus package already has had the bulk of its effect and likely won't result in significant additional growth next year.


Updated : 2021-07-27 15:42 GMT+08:00