More from Evans: Evolution of the data will be an important part on pace of hikes

• Data will be important part of decisions on pace and steepness of hikes
• Supports starting to reduce balance sheet relatively quickly, favors a 'pretty brisk' pace
• Can reduce balance sheet and hike at the same meeting
• Risk of slowing the economy into recession isn't that high

This is a bit more granularity on Fed thinking. The next CPI reading will be critical.