There is some naval-gazing going on here around tweaking the Fed target but it's awfully rich given they've been above 2% for four-and-a-half years.
Bostic hasn't addressed the current outlook and is speaking about the Fed policy framework.
Now he's touching on policy:
- We should be concerned about inflation given how long it's been above target
- Businesses are feeling cost pressures and limits to not passing them on
- I expect to see more inflation pressures
- Says he's still worried about inflation
