President Obama said on Tuesday he was absolutely confident that his plans to fix the banking sector would work, saying he expected renewed credit flows, business opportunities, and hiring.

He made the comments during a press conference at the White House on Tuesday after a meeting with UK Prime Minister Gordon Brown.

Obama noted that he wasn’t looking at the day-to-day gyrations of the stock market, saying that he was focusing looking at the long-term ability of the U.S. and the world's economy to regain its footing.

And, you know, the stock market is sort of like a tracking poll in politics, Obama said. It bobs up and down day to day, and if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong.