Obama: Economy showing ´glimmers of hope´

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Source: CCTV.com | 04-11-2009 16:44

US President Barack Obama has said the US economy is beginning to show glimmers of hope despite remaining under stress. And he signaled more steps were coming to brighten the business climate.

US President Barack Obama, seen here with Federal Reserve Chairman Ben Bernanke in the Roosevelt  Room of the White House, said Friday he saw "glimmers of hope" that the US economy was pulling out of  a paralyzing recession but warned of "a lot of work" yet to nurse it back to health.(AFP/File Photo)

Obama made the comments after meeting at the White House with members of his economic team, including Treasury Secretary, Timothy Geithner, economic advisor, Larry Summers and Federal Reserve Chairman, Ben Bernanke.

Obama said, "The economy is still under severe stress losing their jobs."

Obama said there had been a significant upturn in the number of homeowners seeking to refinance their mortgages, which will put money back into their pockets. But he also noted the high rate of national joblessness, which climbed to 8.5 percent in March.

Obama said he and his advisers discussed the stability of the financial system, the housing market  and a program to help banks clear their books of bad assets that have made normal lending difficult.

Editor:Yang Jie