Poole on challenges for US businesses

At a panel discussion on the challenges for U.S. businesses which took place on 10 September, William Poole of the Federal Reserve Bank of St. Louis said the large U.S. current account deficit does not worry him as it implies a capital account surplus, which is evidence of economic strength.

"This negative net international investment position has been a source of consternation among those who see the globalization of financial markets as a worrisome phenomenon," he told a luncheon panel on

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