4:00am

Thu July 14, 2011
Economy

Fed Official: It's Time For Rates To Go Up

As negotiations continue over the nation's deficit and debt ceiling, Thomas Hoenig is calling on the Federal Reserve to raise interest rates. Hoenig, president of the Federal Reserve Bank of Kansas City, says low rates have helped big banks but they're not allowing average people to save. Hoenig talks to Stave Inskeep about his ideas and what they could mean for the economy.

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