US growth outlook encouraging, says Kansas City Fed’s Hoenig
Thomas Hoenig, the president of the Kansas City Federal Reserve, said on Wednesday the US recovery was likely to remain moderate over the coming years.
"As we begin 2011, recent economic data indicate a firmer tone in the outlook, and I am increasingly confident that the recovery is both sustainable and likely to gain strength over the next several quarters. That said, I expect the recovery to be moderate, with real GDP growing about 3.5% to 4% a year over the next couple of years," Hoenig said
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