G7 bankers warn US over deficit and dollar

Some the world’s major central bankers have warned the US that the international community could be running out of patience with the massive US budget and trade deficits that have pushed the dollar lower and increased the cost of their exports in America.

But US Federal Reserve Chairman Alan Greenspan said before the official opening of the Group of Seven finance ministers meeting that factors including the weaker dollar and tougher budget discipline in Congress may finally start to restrain the growth of the trade gap.