Hoenig on US monetary policy, economic outlook

In a speech on 'Monetary policy and the economic outlook' given on 26 July, Thomas Hoenig of the Federal Reserve Bank of Kansas City said recent U.S. economic performance has been good. Growth has been strong, inflation has been low, and even the labour market seems to be improving.

Real GDP growth should be strong enough this year to lower the unemployment rate somewhat by year's end, and inflation should remain low, Hoenig added. "Monetary policy is currently highly accommodative. While

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