"It is not the Fed's job to pave the yield curve with guaranteed returns for any sector . we...

|By:, SA News Editor

"It is not the Fed's job to pave the yield curve with guaranteed returns for any sector ... we should not be guaranteeing a return for Wall Street," says outgoing KC Fed chief Hoenig before a House committee. Believing that nothing trades efficiently at a price of zero, Hoenig thinks the Fed should hike to about 1% and reevaluate.