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"The current account deficit is going to cause problems," said McTeer, who resigned Nov. 4 from the Fed to run Texas A&M University in College Station, Texas. "Flows will turn against us, and there will be a crisis that will result in rapidly rising interest rates and a rapidly depreciating dollar that will be very disruptive," he said on Oct. 7.
"The current account deficit is going to cause problems," said McTeer, who resigned Nov. 4 from the Fed to run Texas A&M University in College Station, Texas. "Flows will turn against us, and there will be a crisis that will result in rapidly rising interest rates and a rapidly depreciating dollar that will be very disruptive," he said on Oct. 7.
