President Barack Obama, the newly sworn in 44th President of the United States, waves as he and his wife …
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WASHINGTON (Reuters) – Barack Obama, fresh from the pageantry of his historic inauguration, will turn on Wednesday toward his goals of rescuing the economy, charting a new course for the Iraq and Afghanistan wars and shaping his approach to the Middle East conflict.
Obama has pledged bold and swift action to deal with the worst economic crisis since the Great Depression. He has also asked Americans for patience in grappling with challenges both foreign and domestic that will take time to resolve.
With financial markets reeling and job losses mounting, Obama will meet with his economic advisers, who are working with the Democratic-led Congress on an $825 billion fiscal stimulus package.
He also is seeking fresh approaches to repair the battered financial system and is mulling a host of ideas, including the creation of a government-run bank that would buy up toxic assets from ailing U.S. banks.
The aim is to rekindle the flow of the credit to the economy so businesses and consumers can get access to loans.
Iraq and Afghanistan will dominate Obama's foreign policy agenda, but he has also said he will take an active role to try to resolve the Israeli-Palestinian conflict.
He may move quickly to name a Middle East envoy and is strongly .
By Caren Bohan
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