Fed’s Kaplan Says Immigration Key to U.S. Economy Beating China
Bloomberg reports that Federal Reserve Bank of Dallas President Robert Kaplan said the U.S. has benefited from immigration and the nation’s historic openness to newcomers is a vital competitive edge that it needs to preserve its lead in the economic race against China.
“Culturally, we are receptive historically to immigrants — that’s one of the things that differentiates us from Japan and China,” Kaplan said on Friday during remarks in Dallas. “Let’s make sure we’re very careful about undermining those things that made us great.”
Former Chair of the Federal Reserve Board Alan Greenspan has previously credited undocumented immigrants with benefiting the U.S. economy.
KJ
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