US must adapt to maintain role in global debate: NY Fed VP

Terrence Checki, the executive vice president for the New York Federal Reserve's emerging markets and international affairs group, has called on the US to adapt its foreign economic policy in light of the financial crisis.

In a frank and eloquent address delivered on Wednesday, Checki noted that the crisis had affected the standing of the US and that this would have a knock-on impact on the nation's ability to influence the global policy agenda.

"As we strive to exert leadership in the economic

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