In 2010, Hoenig, nearing retirement at the time, was the sole voting member of the Federal Open Market Committee (FOMC) against long-term intervention. He worried that QE would eventually destabilize the economy and lead to inflation. That the Fed, by encouraging riskier lending by banks, would create asset bubbles. www.coindesk.com
In 2010, Hoenig, nearing retirement at the time, was the sole voting member of the Federal Open Market Committee (FOMC) against long-term intervention. He worried that QE would eventually destabilize the economy and lead to inflation. That the Fed, by encouraging riskier lending by banks, would create asset bubbles.
www.coindesk.com