No direct comments on monetary policy
Bostic is out with a speech titled "An Economy That Works for All".
He spends a great deal of time talking about maximum employment but is light on the current outlook. He does highlight the Fed's slower current reaction function:
The short version of the story is that the Committee will no longer preemptively raise interest rates in response to a "hot" labor market because of fear that inflation will eventually be a result. Without actual data demonstrating that an inflationary problem has arrived and is likely to be sustained, we will allow labor markets to run their course, which I believe can contribute to making progress towards our long-run maximum employment goals.
The full speech is here.
He will take questions afterwards and that's more likely to touch on monetary policy.
