Labor market improvements have been slowing - Fed's Bullard

St.Louis Fed President Bullard gave a speech on the economy and monetary policy at the Economic Club of Memphis with key quotes found below (via Reuters):

• Relatively low policy rate likely to remain appropriate
• Surest path to faster growth is productivity growth, and fiscal policy could help
• Fed can wait to see how fiscal policy evolves
• Fed should be allowing balance sheet to shrink now
• Unwise to forecast growth pickup in 2017
• Labor market improvements have been slowing
• Inflation has essentially returned to 2 pct, expected to remain there