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Article: Barriers in Asia, Latin America seen stunting New York's banks.(Federal Reserve Bank of New York economist speaks about opening foreign financial markets)
- Article from:
- American Banker
- Article date:
- June 27, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Open access to foreign financial markets is essential to maintaining a viable financial services industry in New York City, said a senior economist at the Federal Reserve Bank of New York.
"The best prospects for growth are in Asia and in Latin America," said Rae D. Rosen, senior economist at the New York Fed.
Speaking to journalists in New York this week, Ms. Rosen argued that the failure of Asian and Latin American financial markets to allow in U.S. firms was slowing growth in employment at American banks, securities firms, law and accounting firms, and insurance and fund management companies.
"We tend to get very excited about shipping apples to ...