Fed's Lockhart-Too soon to breathe easy

JEKYLL ISLAND, Ga. Tue May 12, 2009 8:39am EDT

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JEKYLL ISLAND, Ga. May 12 (Reuters) - Financial market conditions are more stable than during the height of the crisis in 2008, but it would be premature to say it has ended, Atlanta Federal Reserve President Dennis Lockhart said on Tuesday.

"I believe that conditions are now calmer but it is too soon to breathe easy," he said in remarks to a conference organized by his institution. (Reporting by Alister Bull and Mark Felsenthal, Editing by Chizu Nomiyama)

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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