G20: Global Investment Surge Reverses Savings Glut

US Federal Reserve Chairman Kevin Warsh told G20 finance leaders that the global economy is shifting from a savings glut to an investment surge. This reversal, he said, is helping power growth and reversing past trends of idle capital due to a lack of investment opportunities.

Warsh made these comments during his first international economic policy meeting since taking office in May. He noted that previous G20 meetings often discussed the issue of a global savings glut, but this situation has reversed.

'If I were to try to characterize this moment, it would be one of a global investment surge,' Warsh said. He added that the notion of secular stagnation no longer applies.