Kansas Fed's Hoenig says US rates in neutral range

A Federal Reserve official said Friday 31 March that further economic data will let the U.S. central bank know how it should proceed on interest rates.

In a speech before the St. Joseph, Missouri, Chamber of Commerce, Federal Reserve Bank of Kansas City President Thomas Hoenig revealed that the Fed will know what to do with future rate hikes "only with that constant incoming of data."

Hoenig said policy was in "an area where we are much closer to neutral, maybe in the neutrality or in the uppe

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