Federal Reserve should not be hasty in restricting economy says Raphael Bostic

It is important that the Federal Reserve does not move too fast and inadvertently restrict the economy, Atlanta Fed President Raphael Bostic said on Wednesday. Bostic spoke early last month about the need to wait for greater clarity on the economy's performance before the Fed's recent decision to scrap a promise for further rate hikes and be "patient" on further moves. "For me, I think it's important that we don't go too fast and act in a non-prudent way that lines up inadvertently restricting the economy," Bostic told a banking conference in Dublin. 

(With inputs from agencies.)