Dallas Fed's Fisher on global competition

In the speech 'Racing to the top: How global competition disciplines public policy' given on 11 April Richard Fisher of the Federal Reserve Bank of Dallas said globalization has helped to cut U.S. inflation, but has not helped governments to control spending and this could harm central bank policy.

"Competition brings benefits to the public sector the same way it does the private sector," Fisher said in the luncheon speech.

"We found strong correlation between increasing globalization and measures

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