Federal Reserve Bank of Kansas City president Thomas Hoenig described the economic recovery as “abnormally slow” Monday.

A “major concern” for the strength of the expansion is the decline in bank lending, particularly to small companies, said Hoenig, a voting member of the Federal Open Market Committee.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.