The board of the Federal Reserve Bank Denver Branch regularly holds board meetings outside of Denver. The Branch is part of the Kansas City Federal Reserve system. Kansas City Federal Reserve President Thomas Hoenig was the keynote speaker at a luncheon during the Denver Board meeting held in Sheridan this week.
As a nation we are feeling the effects of the depressed economy and Hoenig says there is a light at the end ofthe tunnel:
The steps to achieve a growing United States economy will not be easy ones. Interest rates are going to have to rise and initial reactions will be to try to stimulate the economy again:
Financial institutions around the region were represented at the luncheon in addition to a who’s who of Sheridan’s business community. More than 200 people in all filed into the Sheridan Inn for Hoenig’s presentation.