Fed should hike to 3.5% soon: FOMC’s Hoenig

Thomas Hoenig

The Federal Reserve must begin a "deliberate" unwinding of stimulus measures, and raise rates by at least 3.5 percentage points "sooner rather than later", Thomas Hoenig, president of the Federal Reserve Bank of Kansas City said on Thursday.

The Kansas Fed chief, who is known for his hawkish views, was explicit in describing the policy path the central bank should follow: "The Federal Reserve must curtail its emergency credit and financial market support programmes, raise the federal funds targe

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