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Fed’s Lockhart: W/Each Qtr Recovery ‘Increasingly Well Estab’
Atlanta Federal Reserve Bank President Dennis Lockhart Monday said the recovery is becoming “increasingly well-established,” but that work has only begun on rectifying the “serious imbalances” remaining in the economy. Lockhart, in remarks prepared for delivery to the Palm Beach Strategic Forum in West Palm Beach, Fla., projected continued relatively modest growth in consumer spending and higher levels of savings, which he said will help reduce the U.S. trade deficit. But he suggested that the greatest amount of work to be done lies in the federal budgetary realm. Lockhart, not a voting member of the Fed’s ... (full story)