(Reuters) - His remarks backed views in financial markets that the U.S. central bank will keep monetary policy on hold in the coming months as it watches how the housing slowdown plays out and whether business investment picks up as expected.
"Right now, our policy rate, called the federal funds rate, is at 5-1/4 percent. And in my judgment that is modestly restrictive, not severely, but modestly so," Hoenig told a group of bankers and businessmen in the hometown of Wild Bill Cody and the self-styled rodeo capital of the world.
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"Right now, our policy rate, called the federal funds rate, is at 5-1/4 percent. And in my judgment that is modestly restrictive, not severely, but modestly so," Hoenig told a group of bankers and businessmen in the hometown of Wild Bill Cody and the self-styled rodeo capital of the world.
Read more at Reuters.com Bonds News
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