St Louis Fed's Poole on pension systems

In a speech on 'Demographic challenges to state pension systems around the world' given on 24 February, William Poole of the Federal Reserve Bank of St. Louis said the United States must make "hard choices" if it is to fix its Social Security retirement system.

"We will have to either raise the retirement age for the current level of annual benefits, reduce the level of benefits in current law, raise taxes on working persons, or adopt some combination of the three options," Poole said in the

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