Powell: Fed Could Slow Hikes by Next Meeting

The transcript discusses the monetary policy tightening program, focusing on three main questions: the pace of tightening, the level to which policy rates should be raised, and the duration of maintaining restrictive policy. The speaker emphasizes the rapid pace of tightening due to inflation and the need to reach a sufficiently restrictive rate to achieve a 2% inflation target. Uncertainty in policy effects and future rate increases is acknowledged, with a shift in focus from the pace of increases to the level and duration of restrictive policy.

What are the three main questions addressed in the tightening program?

Why is it important to move expeditiously in tightening policy?

How does the speaker describe the uncertainty surrounding the level to which rates will be raised?

What factors will be considered in determining the pace of future increases?

What does the speaker suggest about the future pace of rate increases?