May 4th, 2010
08:15 PM ET

Obama on economy: 'The storm is receding'

The past two years of recession have been "difficult," but "the storm is receding," President Obama said in a speech to business leaders Tuesday.

At the annual meeting of the Business Council, a group of of 150 executives from private businesses, Obama said the recession is "not just an economic problem - it's a human tragedy."