Economy Will Rise Soon

Washington, D.C.–Treasury Secretary Henry M. Paulson Jr. told business leaders Friday that the economy was headed toward a recovery, the New York Times reports.“We are still working through housing and capital markets issues and expect to be doing so for some time,” Paulson said at a Washington Post-sponsored conference in Washington, D.C. “We also expect to see a faster pace of economic growth before the end of the year.”Paulson also said that the stimulus checks being sent over the next few months would greatly influence the economy and help offset housing, capital market issues and increased food and energy costs.Although the markets are “considerably calmer” than in March, risks still remain, according to Paulson, who said some “bumps in the road” were likely–particularly in the housing sector.