Lalit K Jha
Washington, Aug 7 (PTI) US President Barack Obama today said his administration has pulled the American economy back from the brink and the worst of the recession may be over, after a surprise drop in the unemployment rate.
"While we have rescued our economy from catastrophe, we have also begun to build a new foundation for growth," Obama said in his remarks on the US economy at White House.
"We have pulled the financial system back from the brink, and a rising market is restoring value to those 401(k)s that are the foundation of a secure retirement," the President said, but also warned that tough times lay ahead before the economy would be restored to full prosperity.
Obama's remarks came following latest figures this morning which revealed that there has been few less job losses than previous months.
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