Thomas Hoenig, a member of the Federal Reserve Board, gives some indication of the split within that body in a speech to the National Association of Realtors. Though the Fed announced a new round of quantitative easing on Wednesday, Hoenig said that the Fed risks inflation and another boom-bust.
Federal Reserve Bank of Kansas City President Thomas Hoenig said the central bank needs to increase interest rates to foster a more solid U.S. economy.
- Bloomberg (Image)
- Robert Kaplan, head of the Federal Reserve Bank of Dallas, says that low bond yields suggest sluggish growth ahead for the economy of the United States.
- Asian stock markets open lower following the fall in the Dow Jones amid speculations about the Federal Reserve's target interest rates.
- Minutes from the last meeting of the U.S. central bank, the Federal Reserve, indicate that it will end its program of bond purchases, also known as quantitative easing, this October.
- The United States Senate Committee on Banking, Housing, and Urban Affairs approves three of President Barack Obama's nominees to the Federal Reserve, including the nomination of Stanley Fischer to be its vice chairman.
- United States Federal Reserve hacker Lauri Love is sentenced.