As the markets continue to remain unsteady on a daily basis, the Bush Administration is proceeding with plans for the Summit of Leaders of the Group of Twenty (G-20) maintaining that it does not want to comment on the movement of the markets on a daily basis.
The White House yesterday announced the venue for the one day summit of leaders on November 15 which is to be preceded by a working dinner on November 14 to be hosted by the President and First Lady.
Prime Minister Dr Manmohan Singh is expected to attend the Economic and Financial Summit.
"...The markets are digesting a lot of information, a lot of economic news that is coming in as well as implementation of the policy tools that we have implemented here and that other nations around the world have started to implement as well. So it's taking a while for the markets to digest that.
The president and his team are focused on addressing the issues as best we can" Press Secretary Dana Perino said going on to add that the President has identified three senior officials who will be in charge of the event and to make it "effective".
"They will be helping to define the agenda and then incorporate ideas and recommendations from their international counterparts and then work on consensus regarding the principles for reform that the task force that will take back and work on individually" Perino said.