Thomas Hoenig

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Distinguished Senior Fellow
Thomas Hoenig is a Distinguished Senior Fellow at the Mercatus Center at George Mason University. Mr. Hoenig engages in research and comment on economics, money and banking, and related policy topics and provides economic outlook and related services to investment firms and businesses across the country.
Prior to joining the Mercatus Center, Mr. Hoenig served as Vice Chairman of the Federal Deposit Insurance Corporation from 2012 until 2018. In that capacity, he oversaw FDIC operations and policy related to deposit insurance pricing, bank supervision, and financial stability and bank resolution. He served as Chair of the FDIC’s Bank Appeals and Audit Committees, and served as Director of NeighborWorks America, which was established by Congress in 1978 to address housing issues nationwide. He also served as a member of the International Association of Deposit Insurers’ board from 2012 to 2017, and as the President and Chairman from October 2015 to October 2017.
Previously, Mr. Hoenig was President and Chief Executive Officer of the Federal Reserve Bank of Kansas City and a member of the Federal Reserve System's Federal Open Market Committee from 1991 to 2011. Mr. Hoenig was with the Federal Reserve for 38 years, beginning as an economist and then as a senior officer in banking supervision. As President and Chief Executive Officer, he led the Federal Reserve Bank of Kansas City during the Great Recession and the banking crisis of 2008 and 2009.
During his time with the Federal Reserve, Mr. Hoenig chaired several key committees including the Conference of Presidents, the Committee on Bank Supervision, Regulation and Legislation, and the Information Technology Oversight Committee. Also, during his tenure, Mr. Hoenig organized and hosted the Federal Reserve Bank of Kansas City’s Jackson Hole economic symposium for global central bankers.
Mr. Hoenig is from Fort Madison, Iowa and received a doctorate in economics from Iowa State University.
Latest Work
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Trump Raises China Tariffs To 245%: What Will Retaliation Look Like? | The David Lin Report
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The Economy and the Fed | Bloomberg Surveillance
- | Financial Markets Financial Markets
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Fed Likely Breathing Sigh of Relief on Tariff Pause | CNBC’s Closing Bell: Overtime
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Fundamentals: Bank Regulation and Supervision
- | Financial Markets Financial Markets
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Fed Discretion Has Opened Door to Policy Missteps, Must Be Reined In | Central Bank Central podcast
- | Financial Markets Financial Markets
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Fed Offered No Surprises, But Is Ignoring Debt | Bloomberg Surveillance
- | Financial Markets Financial Markets
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Fed Likely To Leave Rates Unchanged | BNN Bloomberg’s The Close
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- | Expert Commentary Expert Commentary
Should Commercial Banks Be Shadow Central Banks? | FinRegRag (Substack)
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America Is Likely To See a ‘Slowing Economy’ Proving To Be ‘Painful’ | Mornings with Maria
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Consolidating Bank Supervisors: Is This Time Different? | FinRegRag
Latest Work
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Trump Raises China Tariffs To 245%: What Will Retaliation Look Like? | The David Lin Report
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
The Economy and the Fed | Bloomberg Surveillance
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed Likely Breathing Sigh of Relief on Tariff Pause | CNBC’s Closing Bell: Overtime
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Fundamentals: Bank Regulation and Supervision
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Fed Discretion Has Opened Door to Policy Missteps, Must Be Reined In | Central Bank Central podcast
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed Offered No Surprises, But Is Ignoring Debt | Bloomberg Surveillance
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed Likely To Leave Rates Unchanged | BNN Bloomberg’s The Close
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Should Commercial Banks Be Shadow Central Banks? | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
America Is Likely To See a ‘Slowing Economy’ Proving To Be ‘Painful’ | Mornings with Maria
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Consolidating Bank Supervisors: Is This Time Different? | FinRegRag
Latest Work
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Fundamentals: Bank Regulation and Supervision
Latest Work
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Trump Raises China Tariffs To 245%: What Will Retaliation Look Like? | The David Lin Report
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
The Economy and the Fed | Bloomberg Surveillance
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed Likely Breathing Sigh of Relief on Tariff Pause | CNBC’s Closing Bell: Overtime
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Fed Discretion Has Opened Door to Policy Missteps, Must Be Reined In | Central Bank Central podcast
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed Offered No Surprises, But Is Ignoring Debt | Bloomberg Surveillance
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed Likely To Leave Rates Unchanged | BNN Bloomberg’s The Close
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
America Is Likely To See a ‘Slowing Economy’ Proving To Be ‘Painful’ | Mornings with Maria
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
How Tariffs, Economic Events Can Pressure Fed To Cut Rates | Yahoo Finance’s “Catalysts”
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Jerome Powell's Testimony and the CPI (Part 1)| CNBC
- | Financial Markets Financial Markets
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Jerome Powell's Testimony and the CPI (Part 2)| CNBC
Latest Work
- | Financial Markets Financial Markets
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Freddie Mac Proposed Purchase of Single-Family Closed-End Second Mortgages
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Response to Representative Andy Barr and Representative Maxine Waters
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- | Federal Testimonies Federal Testimonies
Basel Risk-Weighted Capital Standards: History of Poor Outcomes
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
ANPR Resolution-Related Resource Requirements for Large Banking Organizations
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
The FDIC Should Restore the OSA or, at Minimum, Solicit Public Views before Regressing to the SARC
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
The FDIC Should Restore the OSA or, at Minimum, Solicit Public Views before Regressing to the SARC
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Benefits, Costs, and Design Considerations of a Central Bank Digital Currency
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Proposed Leverage Buffer and Credit Risk Transfer Rules Contradict the FHFA's Goals
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Proposed Fed Guidelines Should Be Refined to Ensure Access and Competition in Payments Services
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Comment on FHFA Proposed Capital Framework
Latest Work
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Should Commercial Banks Be Shadow Central Banks? | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Consolidating Bank Supervisors: Is This Time Different? | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The FOMC Should Not Lower Rates, Yet | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Trump Probably Won’t Try to Fire Jerome Powell | Wall Street Journal
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Yes, Simpler, Higher Capital Requirements Are a Better Capital Rule | American Banker
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Economic Resilience: A Choice, Not an Entitlement | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Why Risk-weighted Capital Regulation Misleads | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Why Are Stocks Cratering Around the Globe? | Marketplace Radio
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- | Expert Commentary Expert Commentary
Why Is the Government Encouraging a Taxpayer Bailout? | Politico Magazine
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- | Expert Commentary Expert Commentary