by Calculated Risk on 3/08/2005 03:31:00 PM

In a Q&A session after a speech today in West Palm Beach, Federal Reserve Bank of St. Louis President William Poole said, according to a Reuters article, that it would not take a large change in some combination of either tax increases, benefit cuts or an increase in the retirement age to put the Social Security retirement plan in "pretty good balance."

In the speech, "A Perspective on the Graying Population and Current Account Balances" Poole argued that demographic factors are being overlooked with regards to the Current Account Balance.