The US must fix its growing debt problems or risk a new financial crisis, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, warned on Tuesday, adding a mounting deficit could spur inflation.
Without pre-emptive action, the US risks its next crisis,� Mr Hoenig said in a speech at the Pew-Peterson Commission on Budget Reform.
Source:
http://www.ft.com/cms/s/0/c918b8dc-1b37-11df-953f-00144feab49a.html
