Brainard: Probably Appropriate to Slow Rate Hikes Soon

The video discusses the need to transition to a slower pace of rate increases while emphasizing the importance of continued efforts to control inflation. It highlights the rapid rate hikes and balance sheet reductions undertaken to manage inflation, noting the observable effects on financial conditions and inflation expectations. The speaker stresses the importance of a deliberate, data-dependent approach moving forward to ensure sustained restraint and achieve long-term inflation targets.

What does the speaker mean by 'cumulative tightening'?

Why is it important to be data dependent in monetary policy according to the text?