President Barack Obama will discuss financial conditions in a meeting this morning with Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke, Federal Deposit Insurance Corp head Sheila Bair, Securities and Exchange Commission chief Mary Shapiro and Comptroller of the Currency John Dugan.
Obama is expected to make some brief public remarks at the end of the meeting. The White House session comes amid tentative signs of recovery in ailing financial and retail sectors, according to a front page story in the Washington Post.
The standoff between a U.S. warship and Somali pirates continues in the Indian Ocean. Pirates were able to recapture Maersk Alabama Captain Richard Phillips after he tried to swim to safety in an escape attempt on Friday.