April 24 (Bloomberg) -- Lawrence Summers, director of the White House National Economic Council, speaks in Washington about the U.S. economy.

Summers, speaking at the Inter-American Development Bank in Washington, say the "essence of the economic policy challenge is to counteract the vicious cycle" that's occurring now. Summers also discusses housing, emerging market economies and regulation. (This report is an excerpt. Source: Bloomberg)

00:00 Introductory remarks
01:45 Challenge of counteracting "vicious cycle"
07:31 Obama's fiscal expansion; "critical" response
14:13 Housing; emerging markets; trade finance, IMF
19:55 Opportunity of crisis; regulatory framework

Running time 24:06

Last Updated: April 24, 2009 18:42 EDT