Obama adviser Romer certain of US rebound in 1 year

Obama adviser Romer certain of US rebound in 1 year
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First Published: Sun, Mar 22 2009. 07 03 PM IST
Updated: Sun, Mar 22 2009. 07 03 PM IST
Washington: One of President Barack Obama’s top economic advisers said on Sunday that she was “incredibly confident” the President’s efforts will turn the US economy around within one year.
Christina Romer, head of the White House Council of Economic Advisers, said because of the programs Obama was implementing, “We will be seeing signs the economy is turning around ... (it) is growing again.”
She told the “Fox News Sunday” program that she was “incredibly confident” that the president’s programs will turn around the slumping US economy.
“That’s why we’re taking them,” she said. “We absolutely think they will do the job for the American economy.”
The Obama White House is expected this week to roll out a three-pronged bid to cleanse the US financial system of “toxic” assets clogging banks’ balance sheets, a source familiar with the plan told Reuters on Saturday.
The plan, a cornerstone of the Obama administration’s costly attack on the credit crisis, will aim to attract private investors by offering abundant loans and generous terms.
Appearing on CNN’s “State of the Union” show, Romer said that she had “every expectation, as do private forecasters, that we will bottom out this year and actually be growing again by the end of the year.”
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First Published: Sun, Mar 22 2009. 07 03 PM IST