CORAL SPRINGS, FLA. -- Calling the move "unusual" in scope, Mitt Romney praised the Federal Reserve's decision to slash the federal funds rate as an appropriate step toward turning around the nation's economic slide. But the former Massachusetts governor said that Congress needs to do more.
"A rate cut of three quarters of a point is a large change and I think indicates that Ben Bernanke and the Federal Reserve are concerned about the direction of the overall economy and are taking very aggressive action to try and tip it back in the right direction," Romney told reporters. "And I have no reason to take exception with the move they've taken, but I do believe that Congress needs to act immediately."
Asked whether the nation's economic woes might allow his economic message and business background to better resonate with voters, Romney said that negative economic news isn't good for anyone.
"There is very deep concern about the implications of a recession," he said. "And for that reason, my plan calls for a three-part strategy to address a potential slowdown, or the slowdown itself, and that as it relates to helping housing to keep people in homes."