The Man Who Said No to Easy Money.

The article discusses U.S. monetary and economic policy and the views of U.S. Federal Reserve representative Thomas Hoenig, noted for his philosophy of austerity. The article discusses regularly-scheduled meetings of economic experts called the Federal Open Market Committee (FOMC) and the last one held in January 2011. The FOMC reportedly is responsible for setting policies that guard against high unemployment and high inflation. Because of the expiration of Hoenig's FOMC voting privileges in 2010, the January 2011 meeting is reportedly the first since 2009 that resulted in a unanimous vote for easing the money supply.