Our favorite hawk, Federal Reserve Bank of Kansas City President Thomas Hoenig, spoke with Bloomberg in London.   On Bloomberg Television's "The Pulse," Maryam Nemazee asks Hoenig about the Fed's quantitative easing strategy, recent revelations on the Fed's lending during the financial crisis, the U.S. job market and banking regulations. 

Employment Was Up in March

The Bureau of Labor Statistics (BLS) reported jobs on U.S. payrolls were up 214,000 in March and the unemployment rate fell to 8.8 percent. Particularly encouraging was a 17,000 increase in manufacturing jobs.

And What About the Aircraft Industry?

The BLS did not publish data for the aerospace industry, but it did report that jobs in transportation equipment were up 6,100. If we exclude motor vehicles and part, the rest of the sector (mostly aerospace) was up 2,900 jobs. That is good news for Wichita.