New York Fed president encourages relationship between entrepreneurship and higher education



New York Federal Reserve president William Dudley called for further integration between entrepreneurship and higher education to help bolster economic vitality and lift the country out of a stalled recovery.

The Fed chairman's speech, delivered Monday at Cornell University in Ithaca, New York, reflects widening national interest in small business investment, LLC filing and entrepreneurial development.

"The amount of research dollars that are expended at Cornell is very, very high, but the amount of start-up companies and employment growth that stems from that is low relative to those dollars," Dudley said in an earlier interview with the Cornell Daily Sun.

The New York Fed president also stressed that although the New York Fed cannot directly help to create new businesses, it can help to make education and business "less antagonistic."

In addition, Dudley cited the Fed's focus on comprehensive regulatory reforms as a means to prevent future bailouts of financial giants such as Lehman Brothers, Bear Stearns and AIG that resulted from the controversial Troubled Asset Relief Program. 

Tags : formation, ny, small business management
Posted: Oct 26th, 2010
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