Fed's Moskow - lower trade barriers boost growth

US - U.S. policies that reduce barriers to trade will expand employment over the long term, boost incomes and add to economic growth, said Michael Moskow, president of the Federal Reserve Bank of Chicago on Thursday.

``Economic studies have repeatedly found that openness promotes prosperity,'' Moskow said in a speech to the American Iron and Steel Institute in Chicago. ``Economies benefit from the real efficiency gains brought about by freer trade.''

Moskow addresses trade policy at a time

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