US President Barack Obama said on Friday that the economy is starting to see glimmers of hope, but it remains under severe stress.

"We're starting to see progress, and if we stick with it, if we don't flinch in the face of some difficulties, then I feel absolutely convinced that we are going to get this economy back on track," Obama told reporters after meeting top economic policymakers and financial regulators at the White House.

"What we're starting to see is glimmers of hope across the economy," he said, warning that the economy is "still under severe stress."

"And right now we're still seeing a lot of job losses, a lot of hardship, people finding themselves in some very difficult situations," said the president.

"We still have a lot of work to do, and over the next several weeks you'll be seeing additional actions by the administration," he added.