“What we’re starting to see is glimmers of hope,” the president told reporters at the White House after getting an update on the economy from Federal Reserve Chairman Ben S. Bernanke, Treasury Secretary Timothy Geithner, and Sheila Bair, chairwoman of the Federal Deposit Insurance Corp. Obama cited a 20 percent increase in loans to small businesses.
Talks centered on stimulating the economy, stabilizing banks, reducing strain in the credit markets, the rising jobless rate, mortgage refinancing and the health assessment of banks, including “stress tests” being conducted by the Fed.
Obama Says U.S. ‘Starting to See Progress’ in Economic Recovery
