Hank Paulson: 2008 To Be A Difficult Year

04/20/2008 05:12 am ET | Updated May 25, 2011

US Treasury Secretary Henry Paulson today warned that the US economy is not yet out of trouble, and said the combination of the housing correction, financial market stress and rising prices are all acting as headwinds to stronger growth.

'While I am confident in the long-term economic prospects of the United States, clearly for the moment, the risks facing the US economy are to the downside,' Paulson said today in prepared remarks to the International Monetary and Financial Committee, the policy arm of the International Monetary Fund (IMF).

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