The Obama administration yesterday made a concerted push to boost confidence in downward-spiraling financial markets, assuring Americans that officials are taking the steps necessary to contain the worsening economic damage and to restore the nation's long-term fiscal health.

A day after the markets hit crisis lows, the administration sought to restore calm. The Treasury Department and the Federal Reserve launched a long-awaited program to pump money into consumer lending. Aides, including the White House budget director, vowed that the president's spending plan would benefit the vast majority of working Americans. And officials in various public venues used soothing language in an effort to inspire hope.