Fed’s Hoenig dissents again

Thomas Hoenig

Thomas Hoenig, the president of the Kansas City Federal Reserve, has voiced his displeasure at the Federal Open Market Committee's (FOMC) pledge to keep rates low for an extended period.

Hoenig was on Tuesday the only one of ten voting members of the committee to vote against the use of the phrase that states the FOMC will "maintain the target range for the federal funds rate at 0 to 1/4 per cent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels

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