A vocal Fed dissenter prepares to bow out
By Neil Irwin, Saturday, May 14, 4:27 PM
The Washington Post
KANSAS CITY—Thomas Hoenig has, over the past two years, emerged as the Federal Reserve official most willing to challenge the ultra-easy money policies that the central bank has pursued. While most of his colleagues view near-zero interest rates and massive infusions of cash into the economy as the best hope to help the nation to emerge from its deep economic malaise, the soft-spoken president of the Federal Reserve Bank of Kansas City sees the central bank sowing the seeds of the next crisis. That’s why he dissented at all eight meetings of the Fed’s policy committee last year, and he would almost certainly be doing the same now if he had a vote this year. (Regional presidents rotate onto voting status every third year.)
Full article: http://www.washingtonpost.com/business/fed-veteran-thomas-hoenig-to-retire/2011/05/11/AFCjMh3G_story.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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