By Bhagyashree Garekar, US Correspondent

WASHINGTON: Young and pragmatic centrists will steer the economy in the Obama White House.

In a news conference yesterday, President-elect Barack Obama took his first major step to address the most serious financial crisis since the Great Depression, announcing a team that believes in government intervention to aid market forces and using tax policies to narrow the widening income gap.

'Even as we face great economic challenges, we know that great opportunity is at hand - if we act swiftly and boldly,' Mr Obama said.

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