The White House, President George W. Bush Click to print this document

For Immediate Release
Office of the Press Secretary
December 12, 2002

President Names Stephen Friedman as Director of the National Economic Council
The Roosevelt Room

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President's Remarks
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4:05 P.M. EST

THE PRESIDENT: Good afternoon. I'm pleased to introduce the newest member of my economic team, Mr. Steve Friedman. Welcome, Steve. I also want to welcome Barbara and Susie and Caroline and David and Sam. We're glad you all are here, and thank you for your sacrifice.

Steve Friedman has spent a career at the Center of American Enterprise and Finance and Job Creation. He's an innovative, economic thinker; he's a proven manager; and he's a business leader of national standing. He has served the country as a member of the President's Foreign Intelligence Advisory Board, and as chairman of a task force on modernizing financial management at the Pentagon.

Steve is a graduate of Cornell University, and he holds a law degree from Columbia University, and serves as Chairman Emeritus of that university's board.

I'm delighted that Steve will be joining the White House staff as Assistant to the President for Economic Policy and Director of the National Economic Council.

He replaces a dear friend, Larry Lindsey. I appreciate so very much Larry's service to our country. He has a distinguished career here in the White House. He's earned the respect of the President and everybody who has worked with him.

I selected Steve for his wide experience, and steady and sound judgment. He understands the free enterprise system. He knows how the economy works. And he shares my objectives for stronger economic growth, high standards of corporate integrity, more small businesses across our nation, and greater trade across the world.

I will work with Steve and others on a growth and jobs package that we will present to the new Congress. In order to continue our economic recovery, we will propose further steps to add new jobs, reduce the burden on our taxpayers and to strengthen investor confidence. Our economy is strong, and we're going to make it even stronger. It's important work, and Steve Friedman will be a key member of our team. And I'm pleased to welcome him to full-time public service.

Thank you very much, Steve. Appreciate it.

MR. FRIEDMAN: Thank you so much, Mr. President. Thank you. Mr. President, I have been deeply impressed by our leadership of our nation, and I am honored to join your economic team. I know the other members of your team personally, or by the great respect they've earned in their distinguished careers. I look forward to working with them to achieve the goals of greater growth for the American economy and more jobs for the American people.

As you've said, growth has returned to the American economy. We must increase the momentum of the recovery. Your administration entered office facing a recession. Your economic policies helped make it one of the shortest on record. Still, we must address pressure on family budgets and savings, the need to create more jobs, slow growth in our overseas export markets and disappointing business investment.

Faced with these challenges, I strongly share your conviction, sir, that now is the time for a robust growth and jobs policy. I also share your great confidence in the energy, the resilience and the creativity of American workers and businesses. Now is the time to help them achieve their full potential.

I thank you, sir, for having me serve.

THE PRESIDENT: You're welcome. I'm glad you're here. Thank you all for coming.

END 4:09 P.M. EST

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