http://money.iwon.com/ht/nw/bus/20040325/hl_bus-n25595740.html?PG=home&SEC=newsTell us something we dont' know!!
A ballooning budget deficit and low savings rate pose risks to the U.S. economy and the financial system, New York Federal Reserve President Timothy Geithner said on Thursday.
"The current deterioration in the U.S. fiscal position and the acute decline in the net national savings rate represent risks to the financial system and the economy as a whole," Geithner told the New York Banker's Association.
Geithner said such looming risks were made all the more worrying by the size of the U.S. current account deficit and the unprecedented scale of financing needed to fund it.
The central banker urged the United States to strengthen risk management in an increasingly complex financial environment to guard against any eventualities.
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