The Fed’s Hoenig continues to hammer away at the notion that the Fed needs to abandon its “extended period” language and should start ramping up rates toward 1% in the not too distant future.Hold rates too low for too long will lead to bubbles, he says.
Hawkish words, but unfortunately, he is an army of one…Should have little impact because the market knows he is part of a tiny minority on the FOMC at best or all alone, at worst.
