Cleveland's Pianalto on importance of innovation

In a speech on 'The importance of innovation to our regional economy' given on 13 July, Sandra Pianalto, President of the Federal Reserve Bank of Cleveland said America must learn to innovate better if it wants to secure its place in the global economy.

"For our region to compete successfully in today's global economy, I think that we must shift economic development thinking to focus on innovation," Sandra Pianalto said in the text of her speech.

"We must stop trying to preserve the past and move

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