First lady Michelle Obama joked about the new relationship between her husband and presidential predecessor Bill Clinton.

Their on-stage hug at the recent Democratic Convention was a "public display of the bromance," Obama told Access Hollywood.

"Bill Clinton has been an important adviser, friend and supporter for a very long time," Obama said. "Barack understands that to be good at this job you've got to learn and listen from those who've done it. And because there are so few people alive today who have done this job, you know, you don't waste any of that advice."

She added, "I know he was grateful to have someone like Bill Clinton speak about the economy and create some clarity."

Clinton again spoke up for Obama today, telling CBS' Face The Nation that no president could have "magically" healed a broken economy in just one term.

"That's why we've got to keep working at it," Clinton said.