Thomas M. Hoenig

Thomas Michael Hoenig (born September 6, 1946) is vice chairman of the Federal Deposit Insurance Corporation. He became a director on April 16, 2012. From 1991 to 2011, he served as the eighth chief executive of the Tenth District Federal Reserve Bank, in Kansas City, United States. In 2010, he was serving as a voting member of the Federal Open Market Committee, as one of five of the twelve Federal Reserve Bank presidents that sit on the Committee on a yearly rotating basis. He is known as an anti-inflation hawk.

Hoenig was born in Fort Madison, Iowa, where his father owned a plumbing business. He was raised Catholic and attended Catholic schools. Hoenig earned a B.A. in economics and mathematics from St. Benedict's College (now Benedictine College), Atchison, Kansas, and M.A. and Ph.D. degrees in economics from Iowa State University.

Hoenig joined the Federal Reserve Bank of Kansas City in 1973 as an economist in the banking supervision area. He was named a vice president in 1981 and senior vice president in 1986.

According to Fed salary figures released for 2010, Hoenig earned $374,400 per year, in the mid-range for the twelve regional bank chairs and considerably more than Fed chair Ben Bernanke ($199,700), whose pay is limited by law.

He has served as an instructor of economics at the University of Missouri-Kansas City and lectured on the U.S. banking and regulatory system for the People's Bank of China. Dr. Hoenig is a member of the Board of Trustees of the Ewing Marion Kauffman Foundation and serves on the boards of directors of Midwest Research Institute and Union Station.

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