Powell: Pause Is a Continuation of Rate Hike Moderation

The video discusses the sequence of issues related to rate adjustments, starting with the speed of tightening, followed by the level to which rates need to go, and the duration of maintaining restrictive policy. Initially, rates were increased rapidly, but the pace was moderated as the target was approached. The current focus is on determining the extent of additional policy firming needed to return inflation to 2%, with a more moderate pace of rate increases being considered.

What is the main focus of the current monetary policy discussion?

What is the target inflation rate mentioned in the text?