Kansas City Fed Chief Predicts 'Painful Outcomes' Amid Cont'd Rate Hikes

A recent interview in the Wall Street Journal offers a dire picture of the global economic outlook and yet another sign that harsh times are, in fact, at hand in the new year.

Check the pull quote that should convince smart people to take it easy shopping this holiday season:

‘I have not in my 40 years with the Fed seen a time of this kind of tightening that you didn’t get some painful outcomes,’ said Esther George, president of the Federal Reserve Bank of Kansas City.

Read more via www.TonysKansasCity.com link . . .

Transcript: WSJ Interview With Kansas City Fed President Esther George

Federal Reserve Bank of Kansas City President Esther George spoke with Wall Street Journal reporter Nick Timiraos in Kansas City, Mo., on Nov. 15. She discussed the path of potential interest rate increases and the outlook for employment and inflation. Here is a partial transcript of the interview, lightly edited for clarity and length.