Fed's Ferguson on the personal saving rate

In a speech on 'Questions and reflections on the personal saving rate' given on 6 October, Roger Ferguson of the Federal Reserve said the large US current account deficit brings with it risks that a sharp adjustment in overseas demand for US assets could lead to a disorderly adjustment. He also highlighted the risks that weigh against foreign funding as a sustainable solution to the low US savings rate.

"Should global investors decide to rebalance their own portfolio so as to reduce the amount

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