Obama on the Record: Meeting with Bernanke, Bair

Now, we have always been very cautious about prognosticating and that’s not going to change just because it’s Easter. The economy is still under severe stress and obviously during these holidays we have to keep in mind that whatever we do ultimately has to translate into economic growth and jobs and rising incomes for the American people. And right now, we’re still seeing a lot of job losses, a lot of hardship, people finding themselves in very difficult situations either because they’ve lost their home, they’ve seen their savings deteriorate, and they’re still at risk of losing their jobs.

So we’ve still got a lot of work to do. And over the next several weeks you will be seeing additional actions by the administration. What I just wanted to emphasize today, and I think that Ben Bernanke and Sheila Bair and our economic team as a whole would agree, we’re starting to see progress. And 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.

All right? Thank you very much, guys.

Q Is it still going to get worse before it gets better?

THE PRESIDENT: Thank you, guys. Appreciate it.

Q Sir, are you saying the recession is abating?

THE PRESIDENT: I’m saying we’re seeing progress.

Q You’re saying what?

THE PRESIDENT: I’ve said that we’re seeing progress.

Okay, thank you, guys. Have a wonderful holiday.

Q Thank you, sir.

Q When is the dog coming?

THE PRESIDENT: Oh, man, now, that’s top secret. (Laughter.) That’s top secret.

Q Exactly.

THE PRESIDENT: Oh, no, no, this is tightening up. Any of you going to be at the Easter Egg Roll?

Q Oh, yes.

THE PRESIDENT: That’s big. (Laughter.) That’s big. So we look forward to seeing you on Monday. Thanks, guys.

Q Thank you.

(Source: White House)

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