The remarks by Poole, who is considered an anti-inflation hawk among Fed officials, were likely to add weight to a growing view on Wall Street that the Fed will not raise rates aggressively in the coming months to keep a lid on inflation.

"I believe that the current policy stance is about right. I want to emphasise that that's not the same thing as being precisely right," Poole said at the University of Missouri in Columbia.

Poole, who is not voting on the policy-setting Federal Open Market Committee (FOMC) this year, said his opinion could be swayed when he gets additional information on the economy at the Nov. 16 FOMC meeting."Now I think we are in the ballpark," he said. There is still a good deal of uncertainty on Wall Street about whether the Fed will raise interest rates later this month for the third time this year. They hiked borrowing costs in June and August, citing a risk of inflation from persistently strong domestic growth, very tight US labour markets and increasing demand from recuperating economies abroad. In a prepared speech, Poole reiterated his call for the Fed to set a specific inflation target as it's long-term policy objective.