March 22, 2009 / 1:36 PM / 8 years ago

Obama adviser Romer certain of economic rebound in 1 yr

<p>Council of Economic Advisors Director-designate Christina Romer listens as US President-elect Barack Obama announces the members of his economic policy team during a news conference in Chicago, November 24, 2008.John Gress</p>

WASHINGTON (Reuters) - One of President Barack Obama's top economic advisers said on Sunday that she was "incredibly confident" the president's efforts will turn the U.S. 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 U.S. 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 U.S. 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."

Writing by Philip Barbara; Editing by Eric Beech

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