WASHINGTON -- President Bush, acknowledging that the U.S. economy is wobbly, said on Friday that he hopes the latest moves by the Federal Reserve to lower interest rates will help turn things around.

"I'm not prepared to say we're in a recession," said the President, citing the recent Commerce Department estimate that real gross national product expanded at an annualized rate of 2.4% in the third quarter, although he acknowledged that the United States "is not having the kind of growth that I'd like to see."

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