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DAVOS, Switzerland (Reuters) - Nasdaq Stock Market (NDAQ.O) President and Chief Executive Bob Greifeld said on Thursday a U.S. stimulus package had the ability to forestall a recession in the world's largest economy.
"I think the stimulus package that's been proposed by the President and Secretary (Henry) Paulson, to the extent that this is passed in rapid fashion by Congress I think has the ability to forestall a recession," Greifeld told Reuters.
Greifeld was speaking at the annual meeting of the World Economic Forum in the Swiss resort of Davos.
U.S. President George W. Bush and leaders of the Democratic-led Congress have vowed to move quickly to work out the details of a $150 billion stimulus package for the U.S. economy as recession worries roil global markets.
"At the moment, our business is doing better than it ever has because the volumes have been incredibly high," Greifeld said. "So, it's been very good for us."
(Reporting by Anshuman Daga; editing by Sue Thomas)