Atlanta Fed President Raphael Bostic said on Monday that the Fed needs to be "forceful and committed" in getting inflation under control, as reported by Reuters.

Additional takeaways

"For now, inflation expectations in longer-term haven't moved in a significant way."

"Labor supply is a huge problem."

"Until pandemic is over, there will be effects on labour force and consumers."

"Important Fed keeps inflation expectations anchored."

"I will observe and adapt on monetary policy."

"Our understanding of the economy is shifting on a weekly basis."

"Fed needs to get off emergency stance and get rates back to a more normalized level."

"Prudence in Fed not moving too dramatically."

"Markets are already pricing in a fair amount of Fed movement."

"We need to pull back Fed's excess liquidity to the extent possible."

"Removing excess liquidity will not be disruptive to economy."

"Today I am in favor of a 25 bps move at March meeting."

"Still more data points to come in before next meeting."

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen rising 0.25% on a daily basis at 96.77.