Hoenig continues to press Fed to raise federal funds rate

Tom Hoenig, president of the Federal Reserve Bank of Kansas City, continues to lead the charge for increasing the federal funds rate, saying he would like to raise it to 1% by the end of summer. At a Thursday speech hosted by the Chamber of Commerce in Bartlesville, Okla., Hoenig said periods with interest rates too low can lead to the buildup of new financial imbalances.

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3d rendering of a row of luxury townhouses along a street

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