Larry Summers, President Obama's chief economic advisor, told a gathering of leaders from the financial sector that the economy remains groggy in spite of numerous attempts to rouse it from it's slumber. Summers said that the economy "needs a shot in the arm" in order to "awaken consumer activity and revive confidence in the equity and credit markets." He warned that it may take several months to pull the real estate and mortgage market out of it's "comatose state."
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