fed speech, 2006-03-09
If the U.S. external deficit continues to run at a level close to 7 percent of GDP-and most forecasts assume it will for some time, then the net international investment position of the United States will deteriorate sharply, U.S. net obligations to the rest of the world will rise to a very substantial share of GDP, and a growing share of U.S. income will have to go to service those obligations.
Sentiment: neutral
Topic: mp_economic_activity