Federal Reserve Bank of Kansas City President Tom Hoenig explains his optimism about the economic outlook. "We have a lot of stimulus still to come -- 50%, roughly, of the original stimulus is in 2010. And by any measure, monetary policy remains accommodative," Hoenig said. "Then you have the natural self-correcting mechanisms in the economy. Inventories have been worn down and are rebuilding. That has its own sense of momentum. Other parts of the world are strengthening, so demand for our goods is improving."

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