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President of Federal Reserve Bank of Dallas Addresses Free Trade in the Americas Conference

Oct. 7, 2005

Richard Fisher, president and CEO of the Federal Reserve Bank of Dallas, spoke to a breakfast audience at the Free Trade in the Americas Conference today.

As one of the most powerful trading countries in the world, Fisher said that the United States "has a moral mandate" to champion free trade with other countries. However, he added, the U.S. can't do it alone. Other countries involved must actively support trade initiatives for the result to be effective.

"The theory [of trade agreements] is not the problem. The practice is the problem," he said, referring to the difficulty in enforcement and compliance of agreements between countries.

Journalists from Reuters, Dow Jones and Bloomberg were among the media on hand to cover the event.

The Free Trade in the Americas Conference continues throughout the day on Friday, October 7 at Baylor's Hankamer School of Business. Visit www.baylor.edu/freetrade for more information.

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