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Some business groups, upset about budget and regulatory policies they say are costing jobs, are accusing President Barack Obama of pursuing an agenda that is hurting the U.S. economic recovery.
Top White House economic adviser Lawrence Summers said on Thursday the U.S. recovery has a long way to go but the economy is far healthier now than it was a year ago.
To sustain the fragile economic rebound, the Federal Reserve is sure to leave interest rates at record lows and is likely to repeat a pledge to keep them there for a while.
Sales of new homes dropped a record 32.7 percent in May to the lowest level in at least four decades as the boost from a popular tax credit faded, adding to worries of a slowing economic recovery.
Two senior Federal Reserve officials were upbeat Monday about the U.S. economic recovery despite the worsening debt crisis in Europe, but gave no indication the Fed is anywhere near raising interest rates.