ATLANTA — Federal Reserve Board vice chairman Donald Kohn said yesterday that the increase in the U.S. savings rate since the financial crisis is apt to endure and help reduce the government’s current account deficit.

“This higher saving rate should prove reasonably durable as households seek to pay down debt and rebuild wealth,” Kohn said in remarks prepared for a Zurich conference sponsored by the Swiss National Bank and the International Monetary Fund.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.