Kansas Fed's Hoenig on the economic outlook

In the speech 'The economic outlook and monetary policy: Challenges in the period ahead' given on 19 July Thomas Hoenig of the Federal Reserve Bank of Kansas City said monetary policy is "somewhat restrictive".

According to minutes of the FOMC's June 28-29 meeting, committee members were split in their characterization of the central bank's current policy stance, with some seeing it as "modestly restrictive" and others describing it as "somewhat accommodative." In this speech, President Hoenig

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