Fed's Hoenig says economic outlook bright for US

Kansas City Federal Reserve President Thomas Hoenig said on Tuesday 25 January the outlook for the US economy is pretty bright and inflation should not be a major issue this year.

"I think that we will see our GDP (gross domestic product) growth will once again (be) in the neighborhood of 3.5 to 4 percent, perhaps a little more modest than 2004, but still very healthy growth above our long-run potential growth rate," he told the Greater Oklahoma City Chamber of Commerce in remarks that closely