Jerome Powell characterized questions about interest rate hikes into three categories today in his press conference:

• How high?

• How fast?

• How long?

Here's how he answered those questions:

"A level that will bring inflation to 2%. That level is uncertain and we will find it over time"

"We want to make sure we don't make the mistake of failing to tighten enough or loosening too soon"

"At some point it will be time to slow the pace of increases. That point may be next meeting or the one after that"

"It is premature to be thinking about pausing our rate hikes. We need ongoing rate hikes"