PEP TALK

Obama Spots Economic Progress

President Obama says "we've still got a lot of work to do" to rid the economy of "severe stress," but he's increasingly optimistic. "What you're starting to see is glimmers of hope across the economy," he told reporters after meeting with his economic team, including Lawrence Summers, Sheila Bair, Tim Geithner, and Ben Bernanke. The president cited new demand for mortgages and refinancing and touted growth in small business loans. The news is welcome news for economists, who have upgraded their opinion of Obama and Geithner in a recent Wall Street Journal survey.