Kansas City Fed President Thomas Hoenig - the central bank’s longest serving policy maker - says...

|By:, SA News Editor

Kansas City Fed President Thomas Hoenig - the central bank’s longest serving policy maker - says the real problem facing our economy is bad debt, and a quick-fix monetary policy isn't the cure-all. He asserts that if we don’t turn our focus to the long run, "we will be dealing with overnight crises for as far as the eye can see.”