Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, and Richard Fisher, head of the Dallas Fed, indicated that although economic growth is cooling, more stimulus is not necessary. Mr. Hoenig also reiterated his stance that the Fed should increase its key interest rate to 1% to keep inflation at bay and counter the threat of asset-price bubbles. Meanwhile, Mr. Fisher said additional asset purchases by the Fed are not needed.

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