Gramlich: US needs foreign help on fiscal deficit

Federal Reserve Governor Edward Gramlich said on Monday 10 January that stronger foreign demand is needed to help correct the huge fiscal imbalances in the United States without disrupting global growth.

Speaking to the International Forum annual meeting on the importance of boosting anemic U.S. savings, Gramlich said reducing big U.S. budget and current account deficits that divert savings to debt repayment was important, but there would be consequences for the world economy.

"If the U.S. brin

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