Fed's Kroszner dismisses decoupling

The recent turmoil has served to reaffirm the adage that when the US sneezes the rest of the world catches a cold, a senior Federal Reserve official has argued.

Speaking at the Central Bank of Argentina's Money and Banking Conference, Randall Kroszner, a governor at the Fed, said that the experience of the credit crisis, triggered by the collapse of the US subprime market, "strongly suggests that the global economy is bound together by strong trade and financial linkages, and through them the US

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