Fed's Gramlich says US should raise saving rate

Speaking on Monday 7 February Federal Reserve Board Governor Edward Gramlich said that while the US economy was doing well, he was troubled by the nation's low saving rate.

"The one thing that I think is a little bit of a worry is that if you look at the share of output that the U.S. economy devotes to building up the future -- that share is called the nation's saving rate -- that's on the low side. It's actually at a post-World War Two low," Gramlich told an event sponsored by the law firm Ha