Fisher on globalization's impact on U.S. growth

In the speech 'Globalization's impact on U.S. growth and inflation' given on 22 May Richard Fisher of the Federal Reserve Bank of Dallas said Washington policymakers don't understand how globalization has changed the world economy.

"Traditional theories and economic models that do not adequately incorporate globalization are likely to result in policy responses that might be too strong or too weak, too soon or too late," Fisher said in the speech to a business group in Dallas.

Globalization has

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