Feds Bostic: inflation is too high, not sustainable

• In many regards, US is still in a pandemic economy
• A lot of the strength is due to pandemic support.
• Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is too high, not sustainable.
• Current inflation is not due to excessive risk-taking, but the pandemic response.
• Trajectory on inflation right now is "in the right direction", and Fed will ensure that continues
• Recession is not the baseline outlook
• The biggest risk is not moving inflation back to target; all Fed is in consensus on that view
• Right now policy is clearly in restrictive territory. Fed can be patient
• The economy is starting to slow down with job growth slowing down and inflation coming down, among other signs
• Fed still is time to let restrictiveness play out, but would not be comfortable if inflation stalls or expectations rise
• Right now expectations are pretty well anchored

Bostic has tilted more toward the more dovish of the Fed members of late preferring to let the tightenings to date, work their way through the economy.