The state of the U.S. economy, where it is now and the next steps, dominates Monday's agenda for President Barack Obama.

Obama was to meet with the President's Economic Recovery Advisory Board to discuss long-term, innovation-based ideas to sustain growth and create jobs, the White House said.

He also was to meet with his National Economic Council, focusing on the economy, job creation and achieving sustainable, long-term growth, the White House said. Lawrence Summers, director of the National Economic Council, will lead the closed-door meeting.