Inflation, asset bubbles, and interest rates

The lone dissenter at the last two Fed meetings, Kansas City Federal Reserve President Thomas Hoenig, talks to Fox Business news about, among other things, the perils of short-term interest rates that are left "too low for too long".

Hoenig compares the last decade to the early 1970s noting, "we have had an extended period of negative real rates and we know what followed in the 70s. Now that's not necessarily what's going to follow now, but it is a concern."