Route To Recovery
A team of Reuters journalists toured America in November 2009 to examine the impact of the recession and the prospects for recovery. Here's what they uncovered. Full Article | Full Coverage
Fed's Lockhart says U.S. economy is resilient
BILOXI, Mississippi (Reuters) - Atlanta Federal Reserve Bank President Dennis Lockhart said on Saturday that the United States economy is "resilient."
In remarks prepared for a panel discussion at the Southern Governors' Association annual meeting, Lockhart hailed rebuilding efforts along this stretch of the Gulf Coast, which was slammed by Hurricane Katrina two years ago this week.
"While there's still a lot more work to be done, this region's ongoing recovery serves as a reminder of the resilience of the broader American economy," he said.
Lockhart did not discuss monetary policy or the U.S. economic outlook in his prepared remarks, which focused on how a flexible work force is crucial to attracting domestic and foreign business investment to the region.
He cited "a positive picture of a Southeastern economy that is representative of the nation as a whole."
An academic and businessman, Lockhart took over the Atlanta Fed's top post on March 1. He will be a voting member of the policy-setting Federal Open Market Committee in 2009.
