Donald L Kohn: Productivity and innovation in financial services Speech by Mr Donald L Kohn, Vice Chairman of the Board of Governors of the US Federal Reserve System, at the Official Celebration of the 10th Anniversary of the Central Bank of Luxembourg, Luxembourg, 12 November 2008.
But so long as those investors are risking their own money, in an efficient regulatory and tax environment, we stand the best possible chance of maximising the performance of the economy overall. One message should be very clear. We cannot lift our economic performance by locking land, labour or capital into low-yielding activities.