WASHINGTON, Nov 7 (Reuters) - President-elect Barack Obama on Friday said the United States was facing one of its greatest economic challenges and vowed to confront the crisis head-on as soon as he takes office in January.
At his first news conference since being elected on Tuesday, Obama noted the latest economic data showing significant job losses and an increase in unemployment.
"We are facing the greatest economic challenge of our lifetime and we're going to have to act swiftly to resolve it," Obama said. The news conference in Chicago followed a meeting with his economic advisors.