Dallas Fed's McTeer on transparency

In a speech given on 13 July Bob McTeer of the Federal Reserve Bank of Dallas said that Europe seems to be doing better economically, but what it greatly needs are economic reforms - especially labour market reforms-to give them good job growth.

Our productivity advantage over Europe is usually exaggerated, McTeer said. "Much of our better performance results from the fact that we work longer hours than they do. Some of that is their voluntary choice of more leisure over more goods, but some is

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