(WKTV) - One of the biggest challenges ahead of President Elect Barack Obama will be stabilizing an economy that is growing weaker and weaker. What is the time table Americans can expect for a turnaround? One college professor says it is unclear, however it probably won't happen anytime soon.

Utica College Associate Professor of Economics, Rick Fenner, says despite what ideas Obama may have for changing the economy, he will face some challenges.

"He can set an agenda of things but most of the things that are going to be needed he can't just enact unilaterally," said Fenner, speaking about how Congress is the house that draws up the bills.

Luckily for Obama the house is controlled by Democrats. However, Fenner believes, Obama can actually take control now as a Senator and a President Elect. Fenner says if that is the case, he could try to push agendas through now instead of waiting until January.

"There are some risks in doing that but if he wanted to make a bold move, he could try to start exerting some influence." said Fenner

Fenner believes the biggest challenges ahead of the President Elect, are stabilizing the housing markets and getting the banks back on track. He says with a good transition team that could be done sooner than later.

"I am real hesitant about predicting ahead of time how long or how deep it is going to be," said Fenner.

"I think economist can discuss what we should be doing, and I think what Obama is going to be doing over the next few weeks is meeting with his economic advisors and trying to come up with a plan that will deal with the issues as quickly as possible."