Fed's Hoenig on the national economy & mon. policy

In the speech 'The national economy and monetary policy in the new year' given on 9 January Thomas Hoenig of the Federal Reserve Bank of Kansas City said the U.S. central bank has pushed interest rates into the lower end of a "neutral" range and where they go now depends on the economy's path.

"Let's assume for a moment that the economy grew more quickly ... and that we actually go above our long-run potential," Hoenig said. "Then you might find yourself moving further up into the neutral range

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