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Fed's Harker says trade helps many, but those it hurts are hit hard
Free trade, while much maligned this political season, delivers benefits that far outweigh the harm, contributing among other things to a drop in global poverty, a top Federal Reserve official said on Thursday. But to those it hurts, the effects of job and wage loss can be catastrophic, and lawmakers and government had better do something about it because the central bank is in no position to, Federal Reserve Bank of Philadelphia President Patrick Harker said in remarks prepared for delivery to the Global Interdependence Center in Dublin, Ireland. He did not comment on the stance of monetary policy or the outlook for ... (full story)