BUSINESS
05/29/2011 12:16 pm ET | Updated Jul 29, 2011

Federal Reserve Needs To Raise Interest Rates To Encourage Saving: Regional President Thomas Hoenig

May 29 (Bloomberg) -- Federal Reserve Bank of Kansas City President Thomas Hoenig, the central bank’s longest-serving policy maker, said the U.S. needs to raise interest rates to encourage individuals to save and avoid future asset bubbles.

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