The Lone Voice of Sanity on the Federal Reserve Board

Courtesy Digg - Business & Finance  Wed, 02/17/2010 - 12:50

The US must fix its growing debt problems or risk a new financial crisis, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, warned on Tuesday, adding a mounting deficit could spur inflation.

“Without pre-emptive action, the US risks its next crisis,” Mr Hoenig said in a speech at the Pew-Peterson Commission on Budget Reform.

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