'Edn key to keep US competitive in globalised economy'

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BILOXI, Mississippi, Aug 26 (Reuters): Federal Reserve Bank of Dallas President Bank Richard Fisher said Saturday that education is key to keeping the United States competitive in a globalised economy.
"Oil wells eventually run dry. An educated mind never does," Fisher said in remarks prepared for a panel discussion on the regional economy at the Southern Governors' Association annual meeting.
Fisher did not discuss the US economic or monetary policy outlook. A copy of his remarks was made available in advance.
Fisher traced the evolution of the South's economy from agriculture through manufacturing to services and catalogued recent strong jobs growth.
He called on lawmakers to show "extraordinary political leadership" in resisting calls for protectionist or retaliatory responses in industries hit by a cheaper overseas competition.
"Rather than labour fruitlessly to protect your constituents from foreign competition, you and your legislatures must prepare them for it," Fisher said.