By ITMS News on October 12th, 2010 12:03pm Eastern Time
In a speech to the National Association of Business Economists, president of the Kansas City Federal Reserve Bank Thomas Hoenig, repeated that he is opposed to another round of bond buying by the central bank and states quantitative easing only adds to the uncertain conditions in financial markets with very few offsetting benefits. He stated that quantitative easing is a "very risky strategy" for the Fed because there would be "no idea" at what level inflation might settle as a result. Hoenig so far this year has dissented at all six meetings to date of the FOMC and repeated his call for the Fed to lift interest rates off the zero level and to cancel its pledge to keep rates low.
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