Fed’s Bostic: US policy is restrictive enough to bring inflation to 2% over a reasonable time frame

“US monetary policy is 'appropriately restrictive,” Atlanta Federal Reserve Bank President Raphael Bostic said in remarks prepared for delivery to the South African Reserve Bank Biennial Conference in Cape Town, South Africa.

Additional quotes

Policy is restrictive enough to bring inflation to 2% over a reasonable time frame.

We should be cautious, patient, resolute.

US inflation is still too high.

Inflation is on a clear path downward, expect continued slow decline.

I am not for easing policy any time soon.

Should inflation unexpectedly climb, i would support more tightening.

'Measured cooling afoot' in labor markets as well.

Given lagging nature of housing inflation, underlying inflation may well be close to target already.