Trade is important, binds world together: Fed's Dudley

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November 17, 2016 9:40 AM EST

New York Fed President William Dudley takes part in a panel convened to speak about the health of the U.S. economy in New York, U.S. on November 18, 2015. REUTERS/Lucas Jackson/File Photo

NEW YORK (Reuters) - International trade binds economies together and has become more important over the years, and developments in one country can spill over into the stability of others, an influential Federal Reserve policymaker said on Thursday.

"Trade and financial cross-border linkages bind our economies together," New York Fed President William Dudley told a conference on global monetary policy and capital.

"International developments clearly affect international outcomes and financial stability within each of our borders. These international linkages have become more important over time," he added.

Dudley, a close ally of Fed Chair Janet Yellen, did not mention last week's U.S. election in which Republican Donald Trump was elected president in part on a platform of renegotiating or halting international trade agreements.

(Reporting by Jonathan Spicer; Editing by Meredith Mazzilli)


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