Hoenig: Upcoming Data Will Be Deciding Factor for Fed

Thomas Hoenig, Distinguished Senior Fellow at the Mercatus Center, said the Federal Reserve is waiting for upcoming inflation data to determine its policy direction. Hoenig told Bloomberg that Consumer Price Index and Producer Price Index reports will be critical for shaping future Fed decisions. He discussed the Fed's current economic stance with Bloomberg reporters David Gura and Isabelle Lee on the program "The Close."

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