Retiring KC Fed Chief Tells Chamber “Debt is Not Bad”

The retiring president of the Kansas City Federal Reserve, Thomas Hoeing tells the Greater Kansas City Chamber of Commerce’s Economic forecast breakfast, “debt is not bad’, according to a tweet from the Chamber’s Christie Wyatt.

She says Hoeing’s perspective is,  the US is too used to consuming more than the nation produces.

In another post,, Wyatt reports that Mid America Regional Council economist Frank Lenk seems to agree. He told the forecast breakfast, debt is not the nation’s biggest problem, it is demand.

The forecast did not offer much solid news for the local economy in the immediate future.

Kansas City’s economy is not growing as fast as the sluggish US economy. The prediction, however, is that the region will catch up in 2013.

Growth for the region is almost flat for the year and is expected to remain flat in 2012.

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