Fed`s Hoenig: growth to continue at modest pace

21.07.2011 [13:39]
Print
A⁺ A^-

Baku, July 21 (AZERTAC). A top Federal Reserve official said on the Thursday the U.S. economy should grow at a modest pace for the next several years, but issued a harsh criticism of the U.S. central bank`s just-concluded bond buying program.

"The outlook for the U.S. economy is that we will continue to grow at a modest pace of somewhere between 2.5 (percent), on a good quarter, 3 percent, at least in terms of next year and the year beyond," said Kansas City Fed President Thomas Hoenig.

Hoenig is one of the most outspoken critics of the Federal Reserve`s exceptionally easy money policies. He is not a voter on the Fed`s policy-setting panel.

The Kansas City Fed chief has persistently objected to the extent of the Fed`s aggressive steps to support a weak recovery from a sharp recession that ended in June 2009. When he was a voter on the Fed`s policy-setting Federal Open Market Committee in 2010, he dissented at every rate-setting meeting on the grounds that policy should be tighter.

Fed`s Hoenig: growth to continue at modest pace

FEEDBACK

Other news in this section