President Barack Obama said last night he was seeing signs of progress in his drive to lead the United States out of economic crisis as he sought to reassure recession-weary Americans he was on the right track.
"We're moving in the right direction," Mr Obama said at his second prime-time White House news conference since taking office on January 20th.
Knocked off stride by public anger over hefty corporate bonuses and facing skepticism about his massive budget plan, Mr Obama moved to regain his political footing and refocus attention on his broader economic agenda.
He made his case to the American people the same day he pressed for coordinated action among the world's major economies, and just a day after unveiling a trillion-dollar plan to soak up toxic bank assets at the root of the global financial meltdown.
Mr Obama took the podium after US stocks slid while investors paused to reassess the government's latest effort to clean up bank balance sheets. Initial euphoria over the plan had driven stocks sharply higher on Monday.
Though the economy was in the spotlight, Mr Obama's news conference also gave him a chance to lay some groundwork a week before he makes his debut on the world stage with his first major presidential trip overseas.
Brushing aside suggestions the G20 summit of major economies in London on April 2nd would find him at odds with European partners, Mr Obama said he expected leaders to share common goals of boosting growth and updating antiquated financial regulations while avoiding trade protectionism.
Mr Obama, who has vowed to repair America's image overseas after eight years under predecessor George W Bush, said there were indications his policy changes were "restoring confidence" internationally in US global leadership.
He also made clear he was serious about his recent overtures of a fresh start with longtime US foe Iran and said the status quo of the Israeli-Palestinian conflict, in which he has promised strong US engagement, was "unsustainable."
Reuters