Fed's Hoenig says government must resolve debt issues

02/17/2010 | Financial Times (tiered subscription model)

Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, said the government's mounting deficit could spur inflation or lead to another financial crisis. He said the debt is hindering the ability of the Fed to maintain price stability and economic growth. "Without pre-emptive action, the U.S. risks its next crisis," Hoenig said.

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