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| Version 0 | Version 1 |
|---|---|
| Obama sees 'hope' for US economy | Obama sees 'hope' for US economy |
| (10 minutes later) | |
| US President Barack Obama has said he sees "glimmers of hope" in the economy, but warned that the system remained under "severe strain". | US President Barack Obama has said he sees "glimmers of hope" in the economy, but warned that the system remained under "severe strain". |
| Speaking after a meeting with his top economic advisers, he said there was still "a lot of work to do". | Speaking after a meeting with his top economic advisers, he said there was still "a lot of work to do". |
| Mr Obama promised more action on the economy in the coming weeks. | Mr Obama promised more action on the economy in the coming weeks. |
| He said he and his team had discussed the stability of the financial system, the housing market and plans to help banks clear their books of bad assets. | He said he and his team had discussed the stability of the financial system, the housing market and plans to help banks clear their books of bad assets. |
| 'A lot of hardship' | |
| Mr Obama was speaking after a meeting at the White House with top strategists including Treasury Secretary Timothy Geithner and Federal Reserve chief Ben Bernanke. | |
| He told journalists afterwards: "We're starting to see progress. | |
| "If we stick with it, if we don't flinch in the face of some difficulties, then I feel absolutely convinced that we are going to get this economy back on track." | |
| The president cited increases in loans to small businesses, tax-cut cheques going out and new investments in infrastructure and energy projects as signs of hope for the economy. | |
| But he added a note of caution, saying that the measures taken had to "translate into economic growth and jobs and rising income for the American people." | |
| "And right now we're still seeing a lot of job losses, a lot of hardship, people finding themselves in some very difficult situations," he said. | |
| "We still have a lot of work to do, and over the next several weeks you'll be seeing additional actions by the administration." |