Trade is important, binds world together: Fed's Dudley

EghtesadOnline: International trade binds economies together and has become more important over the years, and developments in one country can spill over into the stability of others, an influential Federal Reserve policymaker said on Thursday.

News ID: ۷۷۱۳۶۹

17 November 2016

"Trade and financial cross-border linkages bind our economies together," New York Fed President William Dudley told a conference on global monetary policy and capital.

"International developments clearly affect international outcomes and financial stability within each of our borders. These international linkages have become more important over time," Reuters quoted him as saying.

Dudley, a close ally of Fed Chair Janet Yellen, did not mention last week's U.S. election in which Republican Donald Trump was elected president in part on a platform of renegotiating or halting international trade agreements.