Reply #74: Fed's Hoenig sees strong growth, low inflation in 2005 (counterspin?) [View All]

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38358.5966523727-830710830&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

WASHINGTON (CBS.MW) -- The U.S. economy should continue on a solid growth path in 2005 with low inflation, said Thomas Hoenig, the president of the Kansas City Federal Reserve. The economy should grow in a range of 3.0 percent to 4.5 percent this year, with "minimal inflationary pressures" and two million new jobs created. Monetary policy remains very accomodative despite the five rate hikes since June that have raised the Fed funds rate to 2.25 percent from 1.0 percent, he said.

2:11pm 01/06/05 HOENIG SEES MINIMAL INFLATION PRESSURES IN 2005

2:09pm 01/06/05 HOENIG SAYS FED POLICY STILL "VERY ACCOMMODATIVE"

2:08pm 01/06/05 HOENIG SEES 2005 GDP GROWTH IN 3.0-4.5% RANGE

2:08pm 01/06/05 HOENIG SEES 2 MLN NEW JOBS CREATED IN 2005

2:09pm 01/06/05 HOENIG SAYS JOBLESS RATE WON'T GO DOWN DRAMATICALLY

2:08pm 01/06/05 FED'S HOENIG: PRODUCTIVITY SHOULD KEEP INFLATION LOW