Dallas Fed: Don’t Blame Job Loss on Immigration and Trade
The Federal Reserve Bank of Dallas has an important message for Texas and the United States. Namely, stop blaming job losses on immigration and trade, especially trade with Mexico. Research conducted by the Dallas Fed shows that there is no link between international trade and job losses.
Dallas Fed President and CEO Robert Kaplan made the point recently at a meeting of the Texas Business Leadership Council in San Antonio. Kaplan said that reasons why jobs might not be as plentiful could be due to technology and other disruptions, such as hurricanes. But attributing those losses to trade and immigration could imperil the U.S. economy, he said.
Kaplan also told the TBLC that the trading relationship with Mexico is “strategic to the United States,” as it improves competitiveness.
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