Atlanta Fed President Raphael Bostic highlighted his readiness to maintain the current rate levels through the end of the year. “I’m comfortable being patient,” he noted at an event overnight. “I’m of the view that things are going to be slow enough this year that we won’t be in a position to reduce our rates towards … the end of the year.”

He pointed out the importance of continued job creation and wage growth that outpaces inflation as key metrics guiding his decision-making process. “If we can keep those things going, and inflation has the signs that it is moving to that target, I’m happy to just stay where we are,” he explained.

However, Bostic also warned of the potential need to adjust rates upward if inflation trends unfavorably, diverging from the Fed’s 2% target. “If inflation starts moving in the opposite direction away from our target, I don’t think we’ll have any other option but to respond to that,” he stated.

“I’d have to be open to increasing rates,” he added.

Minneapolis Fed President Neel Kashkari told Fox News Channel that he wants to be “patient” regarding monetary easing. He added that the first rate cut could “potentially” be inappropriate until 2025.

“I’m in the view of, we need to wait and see, be patient as long as it takes, until we get convinced that inflation is on its way back down to 2%,” he said.

At the Semafor World Economy Summit today, New York Fed President John Williams there is no urgency in current monetary policy stance.

“We’ve got interest rates in a place that is moving us gradually to our goals. So I definitely don’t feel urgency to cut interest rates. I think monetary policy is doing exactly what we would like to see,” he said.

Williams underscored that while an increase in rates is not the expected course, it remains a possibility should the economic indicators necessitate such action to achieve Fed’s inflation objectives.

Fed Governor Michelle Bowman, speaking at an International Institute of Finance conference, remarked that progress on inflation has “slowed” and may have “even stalled at this point”.

Bowman elaborated that the existing levels of growth and market activity might indicate that the current policy stance may not be restrictive enough. “There is a lot of financial market activity and a lot of continued growth that we wouldn’t have expected if policy was sufficiently tight,” she commented, adding, “I think it is restrictive. I think time will tell whether it is sufficiently restrictive.”

Separately, Cleveland Fed President Loretta Mester also echoed the need for caution before making further policy adjustments. While she remains hopeful that inflation will decrease, Mester emphasized the importance of further data analysis before proceeding with any monetary policy changes. “I still am expecting inflation to come down but I do think that we need to be watching and gathering more information before we take an action,” Mester commented.