Center to Focus on Financial Assimilation of Immigrants
Posted Apr 18, 2003
In a March 28, 2003, speech at the Community Affairs Research Conference for the Federal Reserve System, the Federal Bank Reserve of Chicago President, Mike Moskow, announced that the Federal Reserve Bank of Chicago is opening a research center to study how immigrants financially assimilate into U.S. society.

The new research and outreach competency center will strive to answer the following questions:

a) What contributions do new immigrants make to our living standards, worker productivity, and economic growth?

b) Who benefits and who (if anyone) is harmed by the arrival of new immigrants?

c) How can the social and economic mobility of immigrants and their families be promoted?

Mr. Moskow indicated that early studies confirm what we at The Law Office of Sheela Murthy, P.C., have stated all along - immigrants have contributed greatly to our nation and economy through a high labor force participation rate; a high propensity to start new businesses and engage in self-employment; a low use of public services and transfers; and a low level of employment displacement for native U.S. citizens.

We appreciate the positive efforts of Mr. Moskow and the Federal Reserve Bank of Chicago and believe that they will find concrete evidence that supports these initial findings.


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