ATLANTA, (Bloomberg) The U.S. will avoid an extended economic slump similar to Japan’s in the 1990s as banks recognize losses faster than their Japanese counterparts did, Federal Reserve Bank of Atlanta President Dennis Lockhart said Wednesday.

“I do not expect this country to experience the same protracted economic weakness as Japan, in part because we can learn from Japan’s experience,” Lockhart said in a speech to the Japan-America Society of Georgia.

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