(Archived Content)
2006-8-1-11-50-38-19374
Treasury Secretary Paulson delivered his first speech today in New York at the Columbia Business School. The U.S. economy is on a more solid footing, and is stronger than most of us would have predicted. The unemployment rate has held below 5 percent for seven straight months, and we have seen 5.4 million new jobs created since August 2003. I witnessed this recovery on a first-hand basis -- one day at a time -- through the lens of our resilient, broad, deep capital markets, and through the dozens of institutional investors and American corporations who were the clients with whom I worked. This remarkable recovery is a true testament to the strength and resilience of our nation's extraordinary economic system and entrepreneurial spirit, he said in the speech.