Fed's Hoenig: statement error a 'doggone mistake'

Kansas City Fed President Thomas Hoenig said on Tuesday 10 May that the omission of a reassurance about the long-term inflation outlook in last week's Federal Reserve policy statement was just a mistake.

"It just was a doggone mistake and well, oops. I don't know what else to say," Hoenig said, speaking to an audience at an event hosted by the Kansas City Fed at its Denver branch.

On Tuesday last week, financial markets were startled when the statement issued after the Federal Open Market Commi