Washington Buoyed by good news on the jobs front, the White House claimed credit Sunday for reversing the downward economic spiral while bracing out-of-work Americans for a slow recovery.
The Obama administration also eased away from confrontation with China over its artificially low currency. The U.S. wants to encourage Beijing’s help on nuclear proliferation and new penalties against Iran for its perceived attempts to build a bomb.
Given the depth and length of the recession, the White House wants to cool expectations of a rapid economic recovery before the November elections that will determine whether Democrats retain control of the House and Senate.
The economy added about 162,000 jobs in March, the most in nearly three years.