St Louis Fed's Poole on US saving

In the speech 'US saving' given on 15 February William Poole of the Federal Reserve Bank of St. Louis said a significant decline in long-term real interest rates started in the early 1990s, when the estimated real yield averaged around 3.5 percent.

"More recently, the average real yield has been around 2 percent. This negative trend is also visible in the U.K. indexed yield, which declined rapidly in the late 1990s from around 3.5 percent to 2 percent or below in recent years. A decline in global

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