St Louis Fed's Poole on current account balances

In the speech 'A perspective on the graying population and current account balances' given on 8 March William Poole of the Federal Reserve Bank of St. Louis said aging populations and shrinking workforces in Japan and Europe may help reduce the U.S. current account deficit over time.

As people age, they tend to consume more of their assets and save less, Poole said in the speech at the Global Economic Outlook Conference in West Palm Beach, Florida.

"A case can be made that the current account

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