WASHINGTON - U.S. President Barack Obama said on Wednesday he saw some return to normalcy in financial markets but there was still much long-term work ahead to right the shaky economy.

We're pleased that we've seen some progress, that there is some return to normalcy in certain aspects of the financial markets, Obama said at a White House meeting of his 16-member Economic Recovery Advisory Board headed by former Fed chief Paul Volcker.

Obama said he remained committed to looking beyond the immediate crisis and that efforts to promote clean energy and green jobs could help spur economic recovery in the longer term.