• Sees at least three rate hikes this year
  • March is a reasonable date to start rate hike, balance sheet runoff should begin "soon after"
  • There is a risk inflation is likely to be elevated for extended period of time
  • Fed needs to respond directly, clearly, and aggressively
  • A fast balance sheet runoff would be needed
  • Full process of balance sheet runoff should be geared to end in "a couple of years"

This is pretty much the base case scenario for the debate in which I talked about earlier here. There isn't anything that stands out all too much from Bostic's remarks, so carry on as you will.