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☆ The Fed isn't ready for cuts right now, 'I think they know that': Fmr. Kansas City Fed President
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed isn't ready for cuts right now, 'I think they know that': Fmr. Kansas City Fed PresidentThomas Hoenig, Former Kansas City Fed President, joins 'Closing Bell Overtime' to talk recent inflation numbers and what he thinks the Fed's next moves will be.

Persons: Thomas Hoenig Organizations: Fed, Former Kansas City Fed Locations: . Kansas, Former

☆ Fmr. Kansas City Fed Pres. Thomas Hoenig: There's no real case for the Fed to cut rates right now
▼ + stars: | 2024-04-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Kansas City Fed Pres. Thomas Hoenig: There's no real case for the Fed to cut rates right nowFormer Kansas City Fed President Thomas Hoenig joins 'Squawk Box' to discuss the state of the economy, what to expect from tomorrow's CPI data, impact on the Fed's interest rate outlook, and more.

Persons: Pres, Thomas Hoenig Organizations: Fed, Former Kansas City Fed Locations: . Kansas, Former

☆ Fmr. Kansas City Fed Pres. Thomas Hoenig: Three rate cuts 'would be a surprise to me' at this point
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Kansas City Fed Pres. Thomas Hoenig: Three rate cuts 'would be a surprise to me' at this pointFormer Kansas City Fed President Thomas Hoenig joins 'Squawk Box' to discuss the state of the economy, the Fed's interest rate outlook, and more.

Persons: Pres, Thomas Hoenig Organizations: Kansas City Fed Locations: . Kansas

☆ Former Kansas City Fed Pres. Thomas Hoenig: Not convinced the Fed will cut rates in June
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Kansas City Fed Pres. Thomas Hoenig: Not convinced the Fed will cut rates in JuneFormer Kansas City Fed President Thomas Hoenig joins 'Squawk Box' to discuss the state of the economy, Fed Chair Powell's upcoming testimony on Congress, rate path outlook, and more.

Persons: Pres, Thomas Hoenig Organizations: Former Kansas City, Former Kansas City Fed

☆ 3 rate cuts in 2024 would be a 'surprise,' former Fed president Thomas Hoenig says
▼ + stars: | 2024-02-28 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Former Fed president Thomas Hoenig said he'd be surprised if officials deliver three rate cuts in 2024. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Hoenig also said that a preemptive rate cut to curb a potential recession wouldn't be the right move, even in the face of regional bank stress and commercial real estate turmoil. The recent rise in inflation has flipped the script on earlier predictions of rate cuts coming as early as March. Optimistic market forecasters are placing the first rate cut sometime in the middle of this year, while others say the Fed may not cut until well into the second half or even keep rates high through all of 2024.

Persons: Thomas Hoenig, he'd, —, Hoenig, Jerome Powell Organizations: Service, Reserve, Kansas City Fed, Fed, Federal, Market Locations: Kansas

☆ Former Kansas City Fed Pres. Thomas Hoenig: Three rate cuts this year would be a surprise
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Kansas City Fed Pres. Thomas Hoenig: Three rate cuts this year would be a surpriseThomas Hoenig, former Kansas City Fed president, joins 'Squawk on the Street' to discuss Hoenig's outlook for the Federal Reserve, the idea of a preemptive rate cut, and much more.

Persons: Pres, Thomas Hoenig Organizations: Former Kansas City, Kansas City Fed, Federal Reserve Locations: Kansas

☆ Older Americans explain how they're spending their retirements working in the gig economy as Uber and Lyft drivers to make ends meet
▼ + stars: | 2023-12-05 | by ( Jacob Zinkula | Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Some of these semi-retired workers are gig drivers for companies like Uber and DoorDash. Over half of the missing gig workers were aged 60 or older, and over 40% of them described themselves as "retired." Many of these semi-retired workers are gig drivers for companies like Uber and DoorDash. Business Insider previously spoke with six gig drivers about why they're driving during their retirement and the strategies they're using to make money. As her pay-per-ride declines and the cost of maintenance skyrockets, she's been forced to find other types of gig work.

Persons: Uber, —, boomers, didn't, Robert A, Peterson, John Fleming, Charles Rosenblatt, Jeff Hoenig, he'd, Jeff Hoenig Jeff Hoenig, Wesley Johnson, San Francisco Uber, Johnson, Omar Ford, Omar Ford Omar Ford Ford, he's, Germaine, she's, it's, Bill, Rich Organizations: Service, Hebrew University, Federal Reserve Bank of Boston, Survey, AARP, The University of Texas, Business, Hertz, Security, North Carolina, BI, Arizona Uber, Uber, Social Locations: Austin, Myrtle Beach , South Carolina, San Francisco, South Florida, New York City, Florida, North, Arizona

☆ The Fed has 'a long ways to go', says Fmr. Kansas City Fed President Thomas Hoenig
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed has 'a long ways to go', says Fmr. Kansas City Fed President Thomas HoenigThomas Hoenig, Former Kansas City Fed President, joins 'Closing Bell Overtime' to talk the latest jobs data, the possibility of a soft landing, what to expect from the Federal Reserve and more.

Persons: Thomas Hoenig Thomas Hoenig Organizations: Fed, Former Kansas City Fed, Federal Reserve Locations: Fmr . Kansas, Former

☆ How much you should tip your Uber and Lyft driver, according to drivers and etiquette experts
▼ + stars: | 2023-10-25 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some Uber and Lyft drivers have complained about poor customer tipping recently. We asked drivers and etiquette experts how much Americans should be tipping for Uber and Lyft rides . AdvertisementAdvertisementRegardless of whether you're tired of tipping or trying to save money, four etiquette experts and drivers told Insider that it shouldn't stop you from tipping your Uber and Lyft driver. "As long as we're not guaranteed a living wage, I think the ethical thing is to tip drivers." AdvertisementAdvertisementJeff Hoenig, a 63-year-old part-time Uber driver in South Carolina, told Insider that roughly half of his customers left a tip last year.

Persons: Uber, —, it's, Lyft, Thomas Farley, Mister Manners, Gabe Ets, Jeff Hoenig Jeff Hoenig Nick Leighton, Farley, Jeff Hoenig, Hoenig Organizations: Service, Ets Locations: New York, Oakland , California, South Carolina

☆ How much do Uber and Lyft drivers really make? It varies wildly depending on tips, car expenses, and how they calculate profits.
▼ + stars: | 2023-10-24 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

First, the ride-hailing pay calculations used by researchers, drivers, and companies can vary considerably — some don't fully account for the expenses and hours that impact a driver's profits. Second, drivers' pay can fluctuate based on how often they drive, their vehicle's expenses, and how well their customers tip. Aaron Lavender, a 36-year-old full-time Uber and Lyft driver in Colorado, previously told Insider that tips make up 10% to 20% of his income. AdvertisementAdvertisementMinimum wage laws could help clarify drivers' payThe uncertainty of drivers' pay doesn't seem to have stopped Americans from giving ride-hailing gigs a shot. The number of Uber drivers hit a record-high 5 million in 2022, with more than 70% of new drivers citing inflation as a reason they joined the platform, the company reported.

Persons: Uber, —, Lyft, Jeff Hoenig Jeff Hoenig Uber, Gabe Ets, Jeff Hoenig, Smith, Wesley Johnson, Aaron Lavender Aaron Lavender, Dallas Uber, Aaron Lavender, Nathaniel Hudson, Hartman, he's Organizations: Service, Drivers, Demand, Tesla Motors Locations: Oakland , California, South Carolina, Silicon, Mountain View , California, San Francisco, Dallas, Colorado, Portland, New York City, Seattle, California

☆ Fmr. Kansas City Fed President Thomas Hoenig: This FOMC is very concerned about going too far
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Kansas City Fed President Thomas Hoenig: This FOMC is very concerned about going too farFormer Kansas City Fed President Thomas Hoenig joins 'Squawk Box' to discuss the Fed's inflation, rising Treasury yields, rate path outlook, and more.

Persons: Thomas Hoenig Organizations: Fed, Former Kansas City Fed Locations: . Kansas, Former

☆ Meet the typical gig driver: A millennial earning up to $40 per hour who doesn't have another job and depends on your tips
▼ + stars: | 2023-10-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Gig drivers are likely to be dependent on the job for their main income, and need your tips. Omar FordIf the economy takes a turn for the worse and unemployment rises, the number of gig drivers could increase even further. The typical gig driver earns between $20 and $40 an hourSergio Avedian. The typical Uber driver earns $35 per active — or utilized — hour, the company said in February. In September, four ride-hailing drivers told Insider that they earn between $22 to $40 an hour after expenses.

Persons: —, DoorDash, Lyft, Omar Ford, Uber, he'd, Robert Alexander, Gen Zers —, Sergio Avedian, Guy, doesn't, New York City, they've, Nathaniel Hudson, Hartman Nathaniel Hudson, Hartman, Jeff Hoenig, Avedian Organizations: Service, Morning, Pew, New York Daily News, Tribune, Getty, Bank of America, The New York Times Locations: Los Angeles, New York, New York City Ribeiro, New, South Carolina, Portland

☆ High-interest rates have led the private sector to buy debt: Former KC Fed President Thomas Hoenig
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigh-interest rates have led the private sector to buy debt: Former KC Fed President Thomas HoenigRaghuram Rajan, University of Chicago professor, Former Kansas City Fed President Thomas Hoenig, join 'The Exchange' to discuss the Fed decision to Fed quantitative easing, an increase in new debt issuances, and how a shift in who is buying up debt is growing treasury rates.

Persons: Thomas Hoenig Raghuram Rajan, Thomas Hoenig Organizations: KC Fed, University of Chicago, Former Kansas City Fed

☆ It's a 'toss-up' whether the Fed will hike rates again, says former Kansas City Fed president
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's a 'toss-up' whether the Fed will hike rates again, says former Kansas City Fed presidentThomas Hoenig, distinguished senior fellow at Mercatus Center at George Mason University and former president of the Federal Reserve Bank of Kansas City, says "we won't know until we see more inflation data."

Persons: Thomas Hoenig Organizations: Kansas City Fed, Mercatus, George Mason University, Federal Reserve Bank of Kansas Locations: Kansas, Federal Reserve Bank of Kansas City

☆ Inflation will stay more elevated than some expect: Former KC Fed Pres. Thomas Hoenig
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation will stay more elevated than some expect: Former KC Fed Pres. Thomas HoenigFormer Kansas City Fed President Thomas Hoenig joins 'Squawk on the Street' to discuss what will be most interesting from the Federal Reserve's meeting, whether higher oil prices will have minimal impacts on core inflation, and more.

Persons: Thomas Hoenig Organizations: KC Fed, Thomas Hoenig Former Kansas City Fed

☆ 4 Uber and Lyft drivers calculated how much they made after expenses. It ranged from $22 to $40 an hour, and an EV, tips, and tax incentives can make a big difference.
▼ + stars: | 2023-09-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

That's not the case for many gig workers, such as Uber and Lyft drivers. But the companies' figures don't account for drivers' vehicle expenses, which take a cut out of their profits. Last year, he earned roughly $12,000 in combined income driving for Uber and Lyft before vehicle expenses, according to both apps' dashboards. Including his Lyft income, he calculated that he earned roughly $27 an hour in 2022 before vehicle expenses. Last year, he earned about $34,000 driving for Uber and Lyft before vehicle expenses, according to his app information.

Persons: That's, Sergio Avedian, Uber, Guy, Lyft, EVs —, Nathaniel Hudson, Hartman, he'd, Bolt, Jeff Hoenig, Gabe Ets, he's, Hokin Organizations: EV, Service, Hudson, Ets Locations: Wall, Silicon, Los Angeles, The Portland , Oregon, Hudson, Myrtle Beach , South Carolina, Oakland , California, San Diego

☆ The long-run effect of this interest rate cycle is getting more play, says former Fed president
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe long-run effect of this interest rate cycle is getting more play, says former Fed presidentFormer Kansas City Fed President Thomas Hoenig joins 'Squawk on the Street' to discuss his thoughts on Fed chair Powell's recent comments, the data coming this week, and comments from the Dallas Fed survey.

Persons: Thomas Hoenig Organizations: Former Kansas City Fed, Dallas Fed

☆ Today's Fed meeting will underscore data dependency, says former Kansas City Fed president
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailToday's Fed meeting will underscore data dependency, says former Kansas City Fed presidentThomas Hoenig, former president of the Federal Reserve Bank of Kansas City, joins 'Squawk on the Street' to discuss bank loans under pressure due to higher interest rates, the economic impact of enormous fiscal stimulus, and the Fed's upcoming Basel III Endgame Proposal meeting.

Persons: Thomas Hoenig Organizations: Kansas City Fed, Federal Reserve Bank of Kansas Locations: Kansas, Federal Reserve Bank of Kansas City, Basel

The Federal Reserve enacts monetary policies to stabilize prices and maximize employment in the U.S. economy. These dueling goals are known as the dual mandate. For example, if prices are too hot, the Fed may vote to raise interest rates to influence a decrease in borrowing. Other experts argue that the dual mandate remains key to keeping the U.S. economy safe and stable. Watch this video to see how the Fed tries to strike a near-impossible balance to promote both parts of the dual mandate.

Persons: Danielle DiMartino Booth, Thomas Hoenig, David Wessel Organizations: QI Research, CNBC, International Monetary Fund, Federal Reserve Bank of Kansas City, Hutchins, Brookings Institution Locations: U.S

☆ Inflation has to be the first priority for the Fed, says Former KC Fed Pres. Thomas Hoenig
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation has to be the first priority for the Fed, says Former KC Fed Pres. Thomas HoenigThomas Hoenig, FMR. Kansas City Fed president, joins 'Closing Bell: Overtime' to discuss the upcoming economic data reports and the Fed's potential next move.

☆ U.S. Fed's 25 basis point rate hike was the right call, says former Kansas City Fed president
▼ + stars: | 2023-03-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Fed's 25 basis point rate hike was the right call, says former Kansas City Fed presidentThomas Hoenig, former president of the Federal Reserve Bank of Kansas City, says the U.S. Federal Reserve would've lost "enormous credibility" in the fight against inflation if it hadn't done that.

☆ Fed must stay the course on inflation, says former Kansas City Fed president
▼ + stars: | 2023-03-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed must stay the course on inflation, says former Kansas City Fed presidentThomas Hoenig, former FDIC vice chair and Kansas City Fed president, joins 'Squawk Box' to discuss why Hoenig believes the Federal Reserve needs to 'stay the course', regulation around risk-weighted capital standards and more.

☆ The Fed faces a 'no-win situation' but must keep raising interest rates anyway, former FDIC and Fed official says
▼ + stars: | 2023-03-14 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

It’s a no-win situation for them,” Hoenig, the former vice chair of the Federal Deposit Insurance Corporation, told CNN in a phone interview on Monday. Raising interest rates at the Fed’s monetary policy meeting next week could add to the financial pressure facing the banking system, in part by further depressing the value of the bonds that banks are sitting on. But Hoenig, who led the Kansas City Fed during the 2008 financial crisis, urged the Fed to keep hiking rates because inflation hasn’t gone away. Nomura is going a step further, predicting the Fed will completely reverse course and start cutting interest rates next week and halt the shrinkage of its balance sheet. Hoenig said he would be “disappointed” if the Fed started to cut interest rates now, warning of “long-run consequences” that could invite a repeat of 1970s-style runaway inflation.

The 2% inflation target is key to the Federal Reserve's vision for stable prices in the U.S. economy, according to the Federal Reserve Bank of St. Louis. But, "the 2% inflation target, it's relatively arbitrary," Josh Bivens, director of research at the Economic Policy Institute, told CNBC. "We led the way in inflation targeting," Arthur Grimes, professor of wellbeing and public policy at Victoria University, told CNBC. Canada announced its inflation target in 1991, and the United Kingdom followed suit in 1992. Then, Sweden and Finland declared inflation targets in 1993, according to the Organization for Economic Cooperation and Development.

☆ Expect 25 bps for the next few Fed meetings: Former Fed President
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed could hike rates by 25 bps in next meetings if inflation moderates: ex-Kansas City Fed presidentThe Fed's next moves are "up in the air," says Thomas Hoenig, former president of the Federal Reserve Bank of Kansas City, and the central bank could hike by 25 basis points or 50 basis points depending on whether inflation gets too hot.

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