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FEDSPEAK PODCAST: EX-KC Fed President Hoenig's Jackson Hole Preview

MNI

Former KC Fed President Thomas Hoenig tells MNI he expects wide-ranging discussion of macroeconomic and policy constraints at next week's Annual Jackson Hole Symposium.

  • Hoenig doesn't think Powell will show his cards on whether the Fed will hike 50 bps or 75 bps in September.
  • He sees a high probability of recession next year if the Fed tightens policy enough to bring down inflation.
  • The ex-FDIC vice chair says banks are not as well capitalized as regulators claim, and asset price declines linked to Fed tightening could accelerate losses.
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Former KC Fed President Thomas Hoenig tells MNI he expects wide-ranging discussion of macroeconomic and policy constraints at next week's Annual Jackson Hole Symposium.

  • Hoenig doesn't think Powell will show his cards on whether the Fed will hike 50 bps or 75 bps in September.
  • He sees a high probability of recession next year if the Fed tightens policy enough to bring down inflation.
  • The ex-FDIC vice chair says banks are not as well capitalized as regulators claim, and asset price declines linked to Fed tightening could accelerate losses.