U.S. President Barack Obama held a conference call with his top economic advisers Wednesday to discuss recent data reports, global markets and economic growth, the White House said.
Treasury Secretary Timothy Geithner and White House advisers Christy Romer and Larry Summers took part in the call with Obama, who is vacationing on the Massachusetts islands of Martha's Vineyard.
"The economic team provided an update on the next steps to keep the economy growing, including assistance to small businesses and the extension of tax cuts to the middle class," the White House said in a statement.
Government reports on Wednesday showed new U.S. single-family home sales slumped to the slowest pace on record in July and orders for costly durable goods were soft, heightening fears the economy was at growing risk of a new downturn.
