Another excellent interview from Federal Reserve Bank of Kansas City President Thomas Hoenig.
Hoenig is an adult with a rational, thoughtful take on the Fed’s mandate and the limitations of what they can and should be targeting. Hoenig says there’s a limit to how much more the central bank can do and that the focus should now be on solving the country’s fiscal problems. From Jackson Hole, Hoenig talks with Bloomberg about the Fed’s mandate, the outlook for monetary policy and business sentiment. Watch the clip here.