Hoenig sees US inflation staying below 2%

Kansas City Federal Reserve Bank President Thomas Hoenig said in a speech to a business group that he doesn't think inflation will exceed a 2.0 percent rate in the US.

"We have seen inflation rise from 1.2 percent. Today, it is close to 2 percent. I don't see it exceeding that number," Hoenig said in a speech to a business group.

Hoenig is a voting member of the Federal Open Market Committee this year.

"We are going to watch the inflation numbers adjust," he said. "And how those play out have to