“Fed Bank Chief Calls for Interest Rate Hikes”
“Thomas Hoenig, the head of the Federal Reserve Bank of Kansas City, is cementing his reputation as the best friend of savers with money in the bank. Hoenig, who has a seat on the Fed’s interest-rate committee, on Thursday called for the central bank to raise its benchmark short-term rate to 1% “by the end of summer,” from its current range of zero to 0.25%.” Read more.
Tom Petruno
Los Angeles Times, June 4, 2010.
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