European Central Bank President Jean-Claude Trichet said the U.S. economy features regional diversity similar to that of the euro area, urging policy makers to restructure their economies to promote smoother growth. It is “often assumed that the U.S. economy would be significantly more homogenous than the economy of the euro area,” Trichet said today to a forum of central bankers and economists in Jackson Hole, Wyoming. “Looking more closely at the regional dispersion across U.S. regions and euro area economies does not confirm this.” The speech, based on new analysis from the Frankfurt-based ECB of 14 U.S. cities, ... (full story)