Alone with Fed official’s bearish warnings

Reuters scored an exclusive interview with regional Federal Reserve President Thomas Hoenigwith on Nov 16 at a banking conference in Abu Dhabi. The Kansas City Fed chief flagged significant weakness in the U.S. economy, criticized ratings agencies and said no bank should be considered too large to fail. The competitors were forced to quote the Reuters story. His remarks weighed on the U.S. dollar, which slipped 0.4 percent that day on a trade weighted basis