Two prominent US bankers recentlyspoke up in the debate over immigration reform; both stated thatimmigration is critical to the continued recovery and economic growth of the UnitedStates.
Dallas Fed President, RobertKaplan, said the US population is aging and so participation in the US laborforce will decline, creating difficulties for the US economy. We can do something about this, said Kaplan:“One thing is we could have immigration reform in the United States so thatpeople can come here easily and we can continue to grow the workforce in a safeand secure way.” Kaplan acknowledgedthat immigration reform is a difficult debate, but also a necessary one.
Also last week, Minneapolis FedPresident, Neel Kashkari, said immigration reform is a critical component of areturn to faster economic growth. “Mypersonal view,” said Kashkari, “is that we should utilize immigration to ouradvantage as a source for economic growth. If we have a population that’s not growingit’s much harder to have economic growth.”
The FederalReserve System is the central bank of the United States. The Federal Reserve has three primary functions:
The Federal Reserve, also called“The Fed” is led by a Board of Governors in Washington, DC. A network of 12 Federal Reserve Banks and 24branches make up the Federal Reserve System under the general oversight of theBoard of Governors. Each of the 12Reserve Banks serves its region of the country and is led by a Fed President.