President Barack Obama says the battered U.S. economy is starting to show "glimmers of hope."
He spoke Friday after a White House meeting with U.S. top economic advisors and officials.
Mr. Obama said the economy remains under "severe stress" and the administration still has "a lot of work to do" to restore economic growth and stop the loss of jobs.
The President praised Federal Reserve Chairman Ben Bernanke for efforts to bolster the troubled housing market by lowering mortgage interest rates.
Mr. Obama also said other economic programs are showing promise and more will be rolled out in the near future.