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Hoenig on being the Fed’s lone dissenter: ‘I hope I’m wrong’
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January 22, 2011
(original source The Kansas City Star)
“Tom Hoenig waged the biggest battle of his career with the financial security of most Americans hanging in the balance.
Last year the longtime Kansas City figure stepped reluctantly into a national spotlight that few Midwesterners find. He broke with others on the powerful Federal Reserve committee in Washington that sets interest rates to trumpet the populist voice of his region.
Reinforced by lessons from 36 years at the Federal Reserve Bank of Kansas City, 19 of them as president, Hoenig spent all of 2010 fighting the Fed’s persistent easy-money policies.”
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