Fed's Bernanke on the global saving glut

In a speech on 'The global saving glut and the U.S. current account deficit' given on 10 March, Ben Bernanke of the Federal Reserve said a global savings glut has pushed up the U.S. current account gap and pushed down long-term interest rates.

"Real interest rates have been relatively low in recent years, not only in the United States but also abroad," Bernanke told the Virginia Association of Economics. "From a narrow U.S. perspective, these long long-term rates are puzzling; from a global

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