Consumer spending in spotlight at Obama meet

NAPLES, Florida: White House economic adviser Paul Volcker said his meeting on Monday with President Barack Obama focused in part on reducing US economic reliance on consumer spending.

The alternatives to help bolster future economic growth include boosting exports, applying innovative technology to green issues and improving the nation's infrastructure, Volcker said.

The former Federal Reserve chairman, who now heads the White House Economic Recovery Advisory Board, said Obama understands that "We cannot have so much consumption."