April 10th, 2009
01:07 PM ET
5 years ago

Obama: 'Glimmers of hope' in economy

The struggling U.S. economy may be starting to turn the corner, President Obama said Friday.
The struggling U.S. economy may be starting to turn the corner, President Obama said Friday.

WASHINGTON (CNN) – The struggling U.S. economy may be starting to turn the corner, President Obama said Friday, citing several key indicators during a meeting with top economic advisers.

The administration is detecting "glimmers of hope across the economy," Obama said at the White House.

Obama specifically mentioned a significant increase in mortgage refinancing as home owners seek to take advantage of low interest rates. He also mentioned, among other things, progress in spurring lending to small businesses and the mailing of stimulus tax cut checks in April.

The president warned, however, that the economy is "still under severe stress" and that further job losses are expected.

He promised that the administration would be unveiling additional initiatives to spark economic growth over the next several weeks.

Obama made his remarks during a meeting with Federal Reserve Chairman Ben Bernanke, Federal Deposit Insurance Corporation Chairwoman Sheila Bair, Securities and Exchange Commission Chairwoman Mary Shapiro, and Comptroller of the Currency John Dugan, among others.


Filed under: President Obama
soundoff (36 Responses)
  1. Larry

    HOPE ?? We need to borrow our way out of debt-and hope,and hope.

    April 10, 2009 03:06 pm at 3:06 pm |
  2. Lori in St Pete

    My husband got a pay raise a few days ago – for the first time in 2 years. His employer advised everyone in 2006 that the 2% pay raise they got would be the last for the unforseen future. This year the raise was nearly double the last one, so much to the chagrin of those who want President Obama to fail, I believe things are improving.

    April 10, 2009 03:38 pm at 3:38 pm |
  3. old timer

    How would he know. He is a multi millionaire and when do you think was the last time he had to worry about a CC payment or a car payment.

    April 10, 2009 03:49 pm at 3:49 pm |
  4. Simmy

    Mr. President,

    Keep up the great works. ASU nor Notre Dame deserve you...Your body of work surpass anyone that will ever come out of their IHL.

    Notre Dame is religious, but not Christ-like. They have no love nor tolerance.

    ASU is a mere school of higher learning for someone pursuing a degree in landscape-ology. Their highest degree being a PHD in Lawn Care. Your historic campaign is 'body of work' enough to have warranted two of their faux degrees. Their ignorance is not the sum of your parts. You embody 'a body of work.' All they have are stupid rhetoric, shadow Republicans, and the McCains. They are not worthy of you......This is another Judd Gregg moment.......

    April 10, 2009 03:51 pm at 3:51 pm |
  5. Baze

    Let's see what the critique is now

    April 10, 2009 04:08 pm at 4:08 pm |
  6. Curly Quinlan

    Is that glimmers of hope or more of Obama's shining illusions?

    April 10, 2009 04:23 pm at 4:23 pm |
  7. Lori

    Thank you Mr. President. I too see glimmers of economic recovery. Our President has done so much to move America forward in 3 months than George Bush did in his entire drawn-out 8 years. Keep up the good work Mr. President. America (except the bitter Republicans) are behind you!

    April 10, 2009 04:34 pm at 4:34 pm |
  8. Ed

    If the economy turns, it will be because the economy ALWAYS turns. IT has nothing to do with Obama's stimulus package. In fact, THAT was a bogus and unnecessary bid for government control - nothing more!

    April 10, 2009 05:10 pm at 5:10 pm |
  9. Republicans are DEVILS

    GOP equals Ghost Of Past years of destroying this country bringing hate to everyones lives is soon coming to an end.The mindless drones will soon have no more talking points..Reaganomics didn't work HWnomics was the real voodoo economics and ole Wnomics was a flat out disaster the devils time has come call the dems socialism,facism,marxism,communism,or any other ism you want but conservitsm has been rejected so keep fueling the fire keep fighting dont give up dont ever give up..you cant scare this new movement with your fear tactics.THE LOUD MAJORITY WOKE UP on Nov. 4, 2008............

    April 10, 2009 05:49 pm at 5:49 pm |
  10. Enough

    Dear Mr. President,
    You are not on the campaign trail anymore...enough of the hope and change nonsense, you didn't 'change' anything and I'm certainly 'hoping' you continue to make empty promises, mostly because all of your promises are going to bankrupt this country..."glimmer of hope">>now that sounds like the special olympics, right mr. president?

    April 10, 2009 06:04 pm at 6:04 pm |
  11. Ryan

    I've noticed the incline of stocks since March 10th. It must be killing the Rethuglicans to see Obama's plan is reversing thier mess!!

    April 10, 2009 09:16 pm at 9:16 pm |
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