Obama must hold nerve - Mandelson

Lord Mandelson says recovery will involve a complex process

The US and UK economies are in an "uncomfortable place" and both nations must hold a "steady nerve", Lord Mandelson is expected to say.

The business secretary will warn an audience in New York that recovery will take a long time, and urge opposition politicians not to create a "frenzy".

Lord Mandelson will say governments should not make "hurried judgements".

Congress has approved US President Barack Obama's $787bn (