Fed's Bostic: We're close to being ready to cut rates.
We're going to have to think seriously about what's happening in the labor markets.
We want a calm and orderly return to normal.
Our policy has worked, and we can start on the path back to a normal policy stance.
We can't wait for inflation to fall to 2% before changing the policy rate.
The labor market is a sign that we're getting back to a much more normal place.
The inflation numbers over the last few months reinforce my belief that inflation will return to 2%.
Passive adjustment through lower inflation is possible.