Atlanta's Lockhart: exports won't save US

Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta, does not expect a sudden return of exports as a driver of recovery in the United States in the remainder of 2009.

Lockhart said that the recent sharp contraction of trade appeared to be far more severe than would be expected given the decline in global economic activity.

He added that some of the fall in international trade could be attributed to the disruption of the interbank credit system, as banks moved to reduce

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