Trade barriers will do U.S. no good, top Fed official says

NEW YORK (Reuters) – Trade protectionism will not benefit the United States in the face of globalization, and the country should “temper the sharp edges of capitalism” with fiscal policies such as workforce development and employee retraining, an influential Federal Reserve official said on Monday.

“Putting up trade barriers will not make us better off,” New York Fed President William Dudley, who is set to step down in mid-2018, said at a forum hosted by University of California, Berkeley. Globalization “has benefits and costs,” he added when asked about U.S. President Donald Trump’s immigration policies, without commenting on them directly.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.