Federal Reserve Chairman Jerome Powell is warning that slowing down immigration in the U.S. could end up hurting the economy in the long term.
He told Senate Democrats that reduced immigration limits population growth, which in turn slows long-term economic trends. About half of the country’s annual population growth comes from immigration.
President Trump has called for reductions in legal immigration as well as cracking down on illegal immigration. He recently expressed a desire to end “birthright citizenship”.
Source: http://fortune.com/2018/11/01/fed-chairman-powell-us-immigration-news-slow-economy/
